The government has launched a consultation into its new Industrial Strategy which is said to deliver long-term growth and “create a pro-business environment and play to the UK’s strengths”.
Businesses have until 24 November to respond to Business and Trade Secretary Jonathan Reynolds’ and the Chancellor of the Exchequer Rachel Reeves’ newly-published green paper, Invest 2035: The UK’s modern industrial strategy, which is said to kickstart delivery of the Government’s modern Industrial Strategy.
The final Industrial Strategy will be published in spring 2025, alongside the multi-year Spending Review.
The eight key sectors the Government will focus its modern Industrial Strategy on are advanced manufacturing; clean energy industries; creative industries; defence; digital and technologies; financial services; life sciences; and professional and business services.
Brian Berry, chief executive of the Federation of Master Builders (FMB) has, however, raised concerns about the viability of a long-term plan which does not include construction as one of its eight ‘growth driving sectors’.
He said: “It is deeply concerning that the Chancellor and Business Secretary have published an Industrial Strategy for the new Government, but have not felt it necessary to include reference to the construction sector as an industry for growth, during a period where the UK is experiencing both a housing and skills crisis that are holding back and economic resurgence and threaten long-term market confidence.
>>Speak with and hear more from Brian at the RCI Show at 11:20am on 24 October.
“Given the focus on rebuilding Britain, it appears those that will be doing the physical work have been forgotten. While the Government is focussing on inviting big innovative investment, it should not forget the fundamentals of what drives growth. The consultation is an opportunity to ensure that construction doesn’t end up as a side show sub-sector in the plan. Construction needs to be front and centre in the Government’s drive for economic growth.”
He added: “The Government has made several promising announcements in recent weeks with proposals for significant planning reforms, an ambitious house building target of 1.5 million new homes, and the establishment of Skills England all welcome. However, there remain questions about the viability of these plans without serious investment to tackle the root causes. The new Industrial Strategy raises concerns around how integral to the overall UK economy Ministers see our industry, which should sit alongside services and manufacturing as a key pillar of economic growth.”
