UK industrial strategy aims to ‘take sting out of Brexit’
Critics say the obvious way to boost growth and productivity is to stay in EU
The Government today published its industrial strategy to make Britain more productive as two pharma giants announced a £1bn investment in Britain that will create up to 1,750 high-skilled jobs.
Business Secretary Greg Clark’s plan has been almost a year in the making and “will see ministers agree dozens of sector deals with different parts of industry to drive the economy forward and reverse Britain’s productivity crisis”, says Politico’s Jack Blanchard. A central focus will be the technologies of the future, including AI, driverless cars, medical technology and clean energy.
Clark claims the new industrial strategy will “take the sting out of” the Brexit uncertainty, but commentators have questioned how the UK can be competitive without a trade deal to move goods between countries in a cost-effective manner.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Former Tory deputy PM Lord Heseltine “poured cold water” on the plan, says the Financial Times, suggesting the most obvious way for the UK to boost growth and productivity would be to stop Brexit.
The publication of the 255-page white paper comes days after the Office for Budget Responsibility (OBR) - the official forecasting body - revised downward its UK growth forecast.
The good news for the UK is is that life science firms Merck and Qiagen are creating hundreds of jobs with nearly £1bn in investment in London and Manchester, says HuffPost’s Paul Waugh.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
-
'It may not be surprising that creative work is used without permission'
Instant Opinion Opinion, comment and editorials of the day
By Justin Klawans, The Week US Published
-
5 simple items to help make your airplane seat more comfortable
The Week Recommends Gel cushions and inflatable travel pillows make a world of difference
By Catherine Garcia, The Week US Published
-
How safe are cruise ships in storms?
The Explainer The vessels are always prepared
By Devika Rao, The Week US Published
-
Why au pairs might become a thing of the past
Under The Radar Brexit and wage ruling are threatening the 'mutually beneficial arrangement'
By Chas Newkey-Burden, The Week UK Published
-
Brexit: where we are four years on
The Explainer Questions around immigration, trade and Northern Ireland remain as 'divisive as ever'
By The Week UK Published
-
Is it time for Britons to accept they are poorer?
Today's Big Question Remark from Bank of England’s Huw Pill condemned as ‘tin-eared’
By Chas Newkey-Burden Published
-
Is Brexit to blame for the current financial crisis?
Talking Point Some economists say leaving the EU is behind Britain’s worsening finances but others question the data
By The Week Staff Published
-
Labour shortages: the ‘most urgent problem’ facing the UK economy right now
Speed Read Britain is currently in the grip of an ‘employment crisis’
By The Week Staff Published
-
Will the energy war hurt Europe more than Russia?
Speed Read European Commission proposes a total ban on Russian oil
By The Week Staff Published
-
Will Elon Musk manage to take over Twitter?
Speed Read The world’s richest man has launched a hostile takeover bid worth $43bn
By The Week Staff Last updated
-
Shoppers urged not to buy into dodgy Black Friday deals
Speed Read Consumer watchdog says better prices can be had on most of the so-called bargain offers
By The Week Staff Published