Construction to benefit from government Industrial Strategy

Image Shutterstock

Image Shutterstock

To mark the launch of the industrial strategy, U.S. pharmaceutical giant Merck pledged to establish a new hi-tech hub in Britain, creating 950 jobs.

For the third challenge, the government vows that the United Kingdom will "become a world leader in shaping the future of mobility".

The white paper pledges more investment in maths and technical education, as well as the creation of regional growth hubs such as "the Northern Powerhouse", "the South Wales Crucible" and "the North-West Coastal Arc".

"MSD's commitment today, and the wider sector deal investment we have secured, proves the process outlined in the Industrial Strategy can give companies the confidence and direction they need to invest in the UK. Raising digital literacy goes hand in hand with maintaining and building on productivity gains in the industry, that continue to outpace the United Kingdom average, and supports the Government's aspiration of a digital economy that works for all".

Business secretary Greg Clark added: "Our life sciences sector is one of the UK's fastest developing industries, with a turnover in excess of £64 billion, employing 233,000 across the UK".

While CMI did welcome the increased funding for apprenticeships that is included in the white paper, Wilton said the government's Industrial Strategy still did not go far enough in linking improved management skills with better productivity.

The British government unveiled an industrial strategy focused on research and innovation on Monday, in an effort to boost poor productivity and to shield the economy from Brexit.

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.

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"We now look forward to further detail on the sector deals between the pharmaceutical industry and government on the back of Sir John Bell's impressive Life Sciences Industrial Strategy", commented ABPI chief executive Mike Thompson.

"We believe that people and skills are the single most important aspect for the success of the deal and indeed, the Industrial Strategy".

Clark added: "The Industrial Strategy is an unashamedly ambitious vision for the future of our country, laying out how we tackle our productivity challenge, earn our way in the future, and improve living standards across the country".

"The government now needs to follow up on this promising white paper with concrete support for the AD sector so it can deliver its huge potential across the United Kingdom".

The strategy says the United Kingdom will take an AI global leadership role by investing £9m in the new Centre for Data Ethics and Innovation announced in the Budget.

"For years, businesses have been crying out for more support to take advantage of the opportunities that new technology provides".

The strategy includes a section on supporting the government to "adapt to a changing and ageing workforce".

"Addressing the UK's well-documented digital skills gap remains a major obstacle to overhauling the productivity slump. A system led by offshore wind, smart technology, battery storage and electric vehicles will make that happen".

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