Prime Minister gives clearest indication yet that business needs will drive Brexit
Prime Minister Theresa May has given her clearest indication yet that the needs of business will play a prominent role in Britain’s negotiations to leave the EU.
Speaking at her first regional Cabinet meeting, in the north-west today, she launched a Green Paper setting out her Government’s planned industrial strategy for post-Brexit Britain.
It promises that Government will take an active role in backing business.
Central to the strategy will be new “sector deals” and “major investment” in research and development to support the “industries of the future” and create more high-skilled, high-paid jobs.
She told the regional Cabinet meeting that to succeed after leaving the EU the UK needs a strategy to create a group of new industries to challenge the companies of today.
Mrs May said:-
“The modern industrial strategy will back Britain for the long term, creating the conditions where successful businesses can emerge and grow and backing them to invest in the long-term future of our country.”
She said the Government would offer support to help firms address challenges specific to their industry including changing regulations to remove barriers to innovation, using trade and investment deals to increase exports and helping to create new institutions to provide leadership, support innovation and boost skills.
Life sciences, the transition to ultra-low emission vehicles, industrial digitalisation, creative industries and improving competitiveness and skills in the nuclear industry are among the first sectors expected to receive Government help.
The Industrial Strategy Green Paper, which will be subject to consultation before Ministers return with more specific proposals, also sets out ideas to bolster institutions in each part of the country to support that region’s specific strength.
That could involve building up local trade bodies, creating new educational institutions, making it easier for firms to access finance outside London or getting a stronger business voice into local government.
Scott Knowles, Chief Executive at East Midlands Chamber, said:-
“This is the strongest indication yet from Mrs May that she is listening to what our members are telling us they want, which is that business must be the focus of the Government’s Brexit strategy.
“Implemented correctly, the new Industrial Strategy has the potential to provide the strong foundation of business and Government working together to underline the development of a successful UK outside of the EU.
“With a plethora of OEMs, well developed supply-chains, world-leading academic institutions and a location in the centre of the country, the East Midlands is a key place for delivering this.
“Recognising the opportunities that Brexit will bring, our members are already on the front foot in terms of improving their competitiveness, developing new markets and investing in the new technologies and ways of working that will put them at the head of the pack for growth.
“Government backing for these businesses – that have time and again demonstrated their appetite for growth, regardless of events – will demonstrate to both wider UK plc and the rest of the world that the UK backs winners and continues to be a place for those wanting excellence in reliability and quality.”
