Industrial strategy promises major boost to United Kingdom training and research

Reuters

Reuters

Mr Clark said Britain has some of the world's best universities and research institutions, as well as leading companies in sectors ranging from advanced manufacturing to financial services, life sciences and creative industries.

"As we leave the European Union and forge a new path for ourselves, we need to focus on building a better future for our country and all the people who live in it", she said.

Today the Industrial Strategy said with reference to the secondary materials markets: "As part of this work, we will work with industry to explore options to introduce electronic tracking of waste".

Each foundation is supported by a range of policies created to provide businesses with certainty and reassurance that the United Kingdom will continue to have a competitive edge, such as raising total R&D investment to 2.4 percent of GDP by 2027; increasing the rate of R&D tax credit to 12 percent; and investing £725 million in new Industrial Strategy Challenge Fund programmes, "to capture the value of innovation". "It will ensure Britain continues to be at the forefront of innovation and represents a huge vote of confidence in our industrial strategy".

It is also being backed by a £725m fund for innovations along with an increase in research and development investment.

The company said it viewed Britain as a world-leader in science, although a spokeswoman said Brexit raised "some very real concerns" for the supply chain, drug regulation and the ability to attract talent to Britain.

Maddalaine Ansell, University Alliance chief executive, said: "It is particularly welcome that today's White Paper signals a more strategic role for the Office for Students in identifying the future skills needs of the United Kingdom economy".

EU Leaders Prepare To Meet Eastern Neighbors
The summit was expected to end with the adoption of a declaration mentioning the "European aspirations" of the Eastern Partnership nations.

The industrial strategy follows hot on the heels of the clean growth strategy (CGS), launched in October.

Meanwhile, Qiagen said its plans to develop a genomics and diagnostics campus in Manchester, northern England, had the potential to create 800 jobs.

"It is clear that the United Kingdom can, through a collaborative partnership between government, industry, academia, charities and the NHS, deliver the next wave of innovation that will benefit patients, transform the health care system, and generate economic growth and improved productivity". This could mean around £80 billion of additional investment in advanced technology in the next decade, helping to transform whole sectors, create new industries, and support innovation across the country.

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 white paper follows extensive engagement by government with industry, academia and business bodies who submitted nearly 2,000 responses to the green paper consultation earlier in 2017.

However, the report states that the move to cleaner economic growth through low carbon technologies and the efficient use of resources is at the same time "one of the greatest industrial opportunities of our time" estimating that the UK's clean economy could grow at four times the rate of GDP.

The announcement also offered open invitations to businesses, academic groups and civil society to work and engage with the government to innovate and develop new technologies in these fields.

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