The Government has published its Industrial Strategy White Paper and given further information on the Life Science Sector Deal that will be published in full in the next few weeks. The Government’s commitment to ensuring that it has a robust industrial strategy that can enhance productivity will have been reinforced by the disappointing productivity figures set out in last week’s budget. The Paper emphasises that to develop an effective industrial strategy there is a need for partnership, collaboration and a long-term approach. The White Paper has been produced following extensive consultation, and acknowledges that the Government must continue to listen and consult.
The Industrial Strategy White Paper identifies five foundations for increased productivity:
- Business Environment
- Places and sets out four “Grand Challenges” to put the UK at the forefront of the industries of the future