The UK Government has launched its first Industrial Strategy in seven years, aiming to boost investment and create a stable business environment.
The strategy focuses on long term growth in eight key sectors, including advanced manufacturing, clean energy, and financial services, and aims to position the UK as a global investment destination.
Business Secretary Jonathan Reynolds and Chancellor Rachel Reeves announced the strategy, highlighting the importance of giving investors a stable framework to plan for the next decade.
“Our modern Industrial Strategy will hardwire stability for investors and give them the confidence to plan not just for the next year, but for the next ten years and beyond,” Reynolds said.
Clare Barclay, Chief Executive Officer of Microsoft UK, will chair the new Industrial Strategy Advisory Council.
This Council will provide expert advice and work with businesses, unions, and stakeholders from across the UK to shape the strategy and support its goals.
The Council is expected to become a statutory body in the near future, making it a permanent part of the UK’s industrial planning.
The Industrial Strategy focuses on sectors where the UK has strong capabilities today, such as digital technologies, creative industries, and life sciences.
The strategy also aims to strengthen the UK’s supply chains, ensuring they are resilient and capable of supporting economic growth.
