New Industrial Strategy Green Paper Published

The 14th October 2024 saw the publication of the UK Government’s Industrial Strategy Green Paper, alongside an international investment summit, with both intended to support the new Government’s first mission to kickstart economic growth.

Insight Author

Gareth Jones

Director

Tel: 07966 397 922

E: gareth@hardistyjones.com

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The Industrial Strategy Green Paper is being developed in parallel with local growth plans and has a focus on the high growth potential sectors of Advanced Manufacturing, Clean Energy, Creative Industries, Defence, Digital & Technology, Financial Services, Life Sciences and Professional & Business Services.

The Industrial Strategy aims to attract internationally mobile inward investment (which should help to drive up productivity relatively quickly) as well as support growth in higher productivity domestic sectors, with both of these helping to tackle the UK’s chronic low productivity challenge. It recognises the complexity of supporting economic growth and the need to overcome a range of barriers and challenges including skills, recruitment, data, R&D, innovation, adoption of technology, access to finance, grid connections, infrastructure, and planning.

The Industrial Strategy intends to concentrate on places with the greatest potential for the priority sectors, including city regions, high-potential clusters, and strategic industrial sites.

As a Green Paper, the ideas set out here will be fleshed out and developed further, for publication in Spring 2025.