The Government’s ‘Industrial Strategy’ has been released, alongside its 10-year plan to significantly increase business investment across eight growth-driving sectors.
Richard Beresford, Chief Executive of the National Federation of Builders (NFB), said: “Construction will build the premises that businesses need, deliver the homes which stop brain drain, and ensure the infrastructure, such as transport or energy, can support investment. It is therefore heartening to see a government understand that without a healthy construction industry, growth is neither deliverable nor sustainable.
"Alongside the targeted approaches to encourage investors and investment, the nod to spatial planning and regional strategy is hugely important and will ensure opportunity is spread across the nation, while building on and growing specific sectors that develops the UK economy.”
‘The UK’s Modern Industrial Strategy’ sets out four themes: making it easier for companies to do business while providing long term stability, enabling regional investment, transforming highest potential sectors, and creating an enduring partnership between business and state.
The eight growth-driving sectors are:
- Advanced manufacturing
- Creative Industries
- Clean Energy Industries
- Digital and Technologies
- Professional and Business Services
- Life Sciences
- Financial Services
- Defence
Beresford concluded: “Cheaper energy. More certain planning processes. Stronger supply chains. More skilled workers. All these are a recipe for success, and as the enabler of the growth, the construction industry stands alongside the Government to achieve them."