Prime Minister Theresa May this week announced the Government’s ideas on “boosting support for industry” and “Government stepping up to a new active role” with the release of its Industrial Strategy for the post-Brexit economy.
It is understood that the Prime Minister will also announce a further £56m investment in the Northern Powerhouse, including a new innovation fund for businesses in Manchester and Cheshire.
In an attempt to remedy the shortage of maths graduates, and thus ease the skills crisis in construction and engineering, the Prime Minister will also ensure every city has a designated free school for 11 to 18-year-olds acting as a specialist centre of learning for maths.
A green paper will set out ways the Government can provide assistance to business by addressing skills development.
The 10-point plan involves:
- Investing in science, research and innovation.
- Developing skills.
- Upgrading infrastructure.
- Supporting business to start and grow.
- Improving government procurement.
- Encouraging trade and inward investment.
- Delivering affordable energy and clean growth.
- Cultivating world-leading sectors.
- Driving growth across the whole country.
- Creating the right institutions to bring together sectors and places.
The Solar Trade Association (STA) has welcomed the publication, praising how it highlights affordable decarbonisation, as well as energy storage as priorities for the Government.
It said that, coming shortly after BEIS and Ofgem’s smart power consultation, the latest proposals reaffirm Government’s direction of travel towards a modern, flexible network that can deliver clean generation at home, alongside international business opportunities.
Julie Hirigoyen, chief executive of the UK Green Building Council commented: “The hotly-anticipated Industrial Strategy green paper shows some important foresight from Government. We welcome the regional approach, with a view to ‘backing local innovation strengths’, as well as the references to affordable energy and clean growth.
“The Strategy provides an opportunity to equip our cities as the engines of future economic growth, but to do this we must ensure that they have the flexibility from devolution deals to pursue a low carbon future. Indeed, the built environment as a whole, including the integration of renewable energy infrastructure and resource efficient building practices, will be crucial to ensuring we ‘secure the economic benefits of the transition to a low-carbon economy’.
“We also need to see an ambitious vision for low carbon & renewable industries, as well as environmental industries more broadly. If the intention is to back winners, these are sectors where the UK is clearly leading the way and there is significant potential for more export and growth. The low carbon and renewable energy economy in the UK currently generates £46bn in revenue, and supports 240,000 ‘green-collar’ jobs, with significant opportunity to expand this.
“Investing now in a low carbon future will create a more resilient economy, with its foundations in growth markets and opportunities to export our knowledge and expertise across the globe.”
