Business leader welcomes Government's business strategy

Business leader welcomes Government's business strategy

Business leader welcomes Government's business strategy

A White Paper setting out the plans committed the government to negotiating joint deals with industry in the life sciences, construction, artificial intelligence and automotive sectors.

The government wants to position the United Kingdom as a world leader in maximising the value we extract from our resources, strengthening the market for secondary materials and moving towards a more circular economy, its new Industrial Strategy has said.

Tackling the challenges of ageing is a key feature in a new Industrial Strategy.

"So this Industrial Strategy deliberately strengthens the 5 foundations of productivity: ideas, people, infrastructure, business environment and places".

"MSD's commitment today, and the wider sector deal investment we have secured, proves the process outlined in the industrial strategy can give companies the confidence and direction they need to invest in the UK".

Carolyn Fairbairn, the director general of the Confederation of British Industry, warned that today's announcement "must be the beginning of a strategic race, not a tactical sprint", and urged the government to ensure the effects of Brexit were not allowed to harm industrial strategies as they are rolled out across the nation.

The aim of the flagship Industrial Strategy is to boost the United Kingdom economy, build on the country's strengths and embrace the opportunities of technological change.

Whole new industries will be created and existing industries transformed as we move towards a low carbon, more resource-efficient economy'.

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Theresa May said the blueprint would help to shape a stronger and fairer economy for decades.

"Reforming the Apprenticeship Levy, and addressing challenges in schools are vital parts of a long term Industrial Strategy". For the industry, the deal will "drive investment in the UK's world-leading research infrastructure and boost productivity in the sector", it said. So where was the much talked about sector deal for offshore wind?

The investment announced by MSD, known as Merck and Co in North America, will support a new world-leading life sciences discovery research facility in the United Kingdom, supporting a total of 950 jobs in high-skilled and high-value research roles.

It is intended that the UK Discovery Centre will become the location for MSD's UK HQ, making the central London site a unique location within the UK pharmaceutical sector. It will be formally announced in the coming weeks, including a brand new partnership between leading diagnostics company, QIAGEN, and Health Innovation Manchester, that has the intention to develop a genomics and diagnostics campus in the city.

Terry Scuoler, Chief Executive of EEF, the manufacturers' organisation, said: "The introduction of a new industrial strategy is key to supporting efforts to improve productivity and invest in not just current industries, but those of the future which are set to radically change the ways in which people live and work".

The Strategy comes after a green paper consultation earlier this year received nearly 2,000 responses from industry and academia.

The policy document identified challenges for the economy including the emerging importance of artificial intelligence, the shift to cleaner economic growth, radical changes in mobility such as electric and self-driving cars, and an aging society.

In addition to stating that these challenges will shape our ever changing future, the Government also believe that they represent a chance for United Kingdom business, academia and civil society to work collaboratively and take advantage of these opportunities through harnessing technology.

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