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Industrial Strategy Consultation

Volume 620: debated on Monday 23 January 2017

The Government are today publishing a Green Paper: “Building our Industrial Strategy”.

This signals a new and collaborative approach to industrial strategy in the United Kingdom, helping to deliver an economy that works for everyone.

We are working from a position of strength. We have built an open, dynamic and competitive economy since the financial crisis, with a record number of people in work. We have more businesses than ever, industry sectors that are world leading, a strong science and research base, and have seen significant growth.

But there are challenges that the United Kingdom must face up to now and in the years ahead. Specifically we must:

Build on our strengths and extend excellence into the future;

Close the gap between the UK’s most productive companies, industries, places and people and the rest; and

Make the UK one of the most competitive places in the world to start or grow a business.

“Building our Industrial Strategy” sets out our approach to addressing these challenges in order to attain our objective: to improve living standards and economic growth by increasing productivity and driving growth across the whole country.

In order to endure, our strategy should reflect the considerable contribution of a wide group of people and bodies who share our ambitions. That is why this is a Green Paper—a set of proposals for discussion and consideration, and an invitation to others to contribute collaboratively to their development. I have placed copies of the document in the Libraries of the House.