The UK Government has published the Industrial Strategy White Paper, which sets out a long term plan to boost the productivity and earning power of people throughout the UK.
You can find the White Paper here: https://goo.gl/rZPzTa
It sets out how we are building a Britain fit for the future – how we will help businesses create better, higher-paying jobs in every part of the United Kingdom with investment in the skills, industries and infrastructure of the future.
Building on Economic Strengths
The UK has significant economic strengths on which we can build, but we need to do more to increase our productivity and make the most of our untapped potential right across the country.
By planning for a rapidly changing future, we can shape new markets and build the UK's competitive advantage as well as improve the quality of our everyday lives. We will boost productivity and earning power across the country by focusing on the five foundations of productivity: Ideas, People, Infrastructure, Business Environment and Places.
Our Industrial Strategy is making changes now, but also looking to the future. We have committed to the biggest ever increase in public and private investment in R&D. Public infrastructure investment will have doubled in a decade by 2022/23 and through Local Industrial Strategies we will work with local leaders to build local economies that thrive. We have launched a £1.7 billion Transforming Cities Fund to make the towns in and around our major cities better connected to the city and each other and promote local growth. We are reforming our technical education system to make it as prestigious as our higher education system, and we are supporting businesses across the country to boost their exports and productivity.
Businesses welcomed our proposal to have sector deals, strategic, long-term partnerships between industry and the government, backed by sizeable private sector co-investment. We are announcing deals in construction, life sciences, artificial intelligence and automotive industries, updating on the sectors in advanced discussions and setting out criteria for future deals.
Four Grand Challenges
The Industrial Strategy also sets out four Grand Challenges to put the UK at the forefront of the industries of the future, ensuring that the UK takes advantage of major global changes, improving people’s lives and the country’s productivity. The first four Grand Challenges are focused on the global trends which will transform our future: Growing the Artificial Intelligence and Data Driven Economy, Clean Growth, Future of Mobility and our Ageing Society.
The White Paper is a significant milestone but not the end point: It sets out a clear long-term ambition and framework with a series of policies supporting it. We will be creating an independent Industrial Strategy Council which will develop measures of success and evaluate our performance.
Our partnerships with businesses, academia and civic society will ensure we are doing all we can to boost productivity and earning power, and we are responding to rapid changes in the economy. We look forward to working with you in the future as we now move towards implementation.
What’s in it for Scotland?
· A review of how UK and Scottish Government agencies can better collaborate to support business in Scotland will improve both the consistency and impact of government support to businesses in Scotland, including helping Scottish business access UK supply chain contracts.
· The Industrial Strategy Challenge Fund, bringing together world leading research with business, supports Scotland’s immense innovation potential including in Artificial Intelligence and precision medicine.
· The Life Sciences and Construction Sector Deals will positively impact on Scottish expertise.
· The foundation of Place supports Scotland’s unique economic, creative and cultural strengths: for instance Dundee’s expertise in the gaming industry, Aberdeen’s world-class offshore energy cluster or Edinburgh’s recognised excellence in Life Sciences.
Secretary of State for Scotland, David Mundell said:
“Scotland has a world-renowned reputation for industrial success and innovation, and today’s Industrial Strategy will build on that. It will mean that Scottish businesses can continue to grow and thrive.
“We know that some businesses can struggle to get the support they need to grow their businesses effectively, and the current system of support can be inconsistent across the country. The review we are announcing today will ensure Scottish businesses get a more coherent, effective system of support.”
We would be delighted to receive your feedback on the Industrial Strategy White Paper, feel free to share your organisation’s thoughts by email to:StakeholderEngagement@scotlandoffice.gsi.gov.uk