Eight industrial sectors have been selected as the focus of the new government’s industrial strategy, but construction is not among them.
The sectors that the government will focus its industrial strategy on are:
- ‘advanced’ manufacturing
- ‘clean’ energy industries
- creative industries
- defence
- digital technologies
- financial services
- life sciences
- professional and business services.
To help pilot the new strategy, an industrial strategy advisory council is being put together, chaired by Microsoft UK chief executive Clare Barclay.
She said: “As chair of the Industrial Strategy Advisory Council, I will ensure the council provides a clear and strong voice on behalf of business, nations, regions, and trade unions, as we invest for the future to ensure that our prosperity is underpinned by robust growth in key sectors right across the country.
“Whilst we fully embrace the industries of today, we must also have a clear plan for future growth, and the advisory council will play a central role in shaping and delivering this plan.”
Business and trade secretary Jonathan Reynolds said: “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 10 years and beyond.
“This is the next step in our pro worker, pro business plan which will see investors and workers alike get the security and stability they need to succeed.
“Clare’s wealth of talent and experience will help ensure the industrial strategy delivers its mission of unleashing the potential of high productivity sectors to spur growth, spread wealth, and drive-up employment across the UK.”
Business lobby group the Confederation of British Industry (CBI) said other industrial sectors also needed to be considered.
CBI chief executive Rain Newton-Smith said: “Delivering the government’s sustainable growth mission will be dependent on the success of the partnership it builds with business. A modern, long term industrial strategy can provide firms with the stability and certainty to unlock the innovation and investment needed to grow the economy.
“Given the size of the UK economy, a successful industrial strategy cannot seek to be everything to everyone. By focusing on eight highly productive sectors, the government is identifying where the UK can compete to win on the global stage.
“But with businesses of all sizes and sectors vital to the government’s growth ambitions, the industrial strategy must also be the vehicle for creating a thriving investment environment for the wider business community.”
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