The UK’s Industrial Strategy must benefit all parts of the country, according to the British Chambers of Commerce (BCC).
The government says the Industrial Strategy will be published in Spring 2025, alongside the multi-year Spending Review.
The BCC is urging ministers to integrate each nation and region’s strengths into the plan, alongside a focus on sectors.
In a written submission, the business group says that for the strategy to succeed, foundation issues such as a competitive tax environment, skilled workforce and an enabling regulatory environment must be in place. It points out that achieving this will require collaboration across government departments and involvement from both the public and private sectors.
Jonny Haseldine, Policy Manager at the BCC, said:
‘The Industrial Strategy is a much-needed opportunity to boost economic growth and investment.
‘With millions of businesses now facing increased costs following last month’s Budget – even more is now riding on the government’s strategy. Firms in every corner of the UK need this plan to deliver at pace for their needs and their communities.
‘The strategy needs to identify priority sectors which will drive growth – building on the past but crucially looking forward.
‘But the industrial strategy will struggle unless other key obstacles to business investment are tackled. It must not be designed and implemented in isolation from other policy measures and strategies.’
Internet link: BCC website