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Industrial Strategy

Expert Comment on Government's Industrial Strategy Green Paper

Commenting on the Industrial Strategy green paper, Robert Hannah, chief operating officer at Grant Thornton UK LLP, said:

"The Prime Minister sets out a wide-ranging and ambitious approach to modernising the UK's infrastructure and enhancing economic competitiveness. UK industrial strategy needs to tackle deep-seated productivity issues, anticipate future needs and rapid change in the economy, and address the challenges and opportunities of Brexit. The Government’s comprehensive approach seems to cover these bases and – subject to the detail and implementation – has the potential to be transformative in creating a vibrant post-Brexit economy. 

"The sector-focused approach should prove prudent, as the nuances in opportunities and challenges within each sector will differ and need to be approached accordingly. More generally, the emphasis on skills, trade, R&D and infrastructure will no doubt be welcomed by the business community, as we know these are key areas where businesses of all sizes have expressed concerns over in recent years.

"Similarly, the place-based approach will resonate with communities and businesses based outside the capital – many of which feel left behind by London's economic and political dominance. Our research has shown there are real and tangible improvement opportunities in these communities, but they need the resources and devolved authority to realise them. Alongside this, true collaboration and engagement across Combined Authorities, local political leaders and local business leaders will be crucial in delivering the strategy and ensuring it meets its aim of supporting all across the economic spectrum whilst ensuring Britain is match fit for the new global economy. Inviting businesses and workers to contribute to this vision to create a high-skilled economy where every place can meet its potential will be vital to the Strategy's successful development and implementation. We look forward to exploring the details in more depth and sharing our ideas with government over the coming weeks and months."