Conservative party unveils industrial strategy white paper

 
Josh Martin
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The plan is partly aimed at fixing the UK’s productivity crisis (Source: Getty)

The government has published an extensive industrial strategy that it says will “help businesses to create high quality, well paid jobs right across the country”.

The 255-page white paper is the result of Prime Minister Theresa May’s pledge to take a more interventionist approach to the economy than her predecessor David Cameron, with the intention of spreading prosperity more evenly throughout the UK.

It identifies several sectors, such as construction, artificial intelligence, automotive and life sciences, in which the government will seek to collaborate with the private sector and boost industry.

Read more: The industrial strategy of the future calls for some contrarian thinking

The plan is also aimed at fixing the UK’s productivity crisis, partly by investing in Stem subject education, transport, and research and development (R&D).

“At its heart it epitomises my belief in a strong and strategic state that intervenes decisively wherever it can make a difference,” May wrote, in the foreword to the document.

Business secretary Greg Clarke admitted that businesses face heightened uncertainty as Brexit negotiations continue, arguing that the white paper would provide some much-needed clarity and held fix Britain’s economic problems.

Read more: Theresa May pledges to defend free market vision with industrial strategy

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