Create industrial strategy that benefits businesses: BCC tells UK govt

In a written submission to the Government’s consultation, the BCC—which represents over 50 chambers of commerce across the UK—has urged ministers to integrate each nation and region’s strengths into the plan, alongside a focus on sectors. 

The BCC has urged the ministers to identify ‘growth driving priority sectors’, adding that the strategy should clearly identify how the UK’s competitive advantage can be leveraged. The written submission says, “the industrial strategy should drive investment, support the workforce and encompass the net-zero transition.”

The submission says that for the strategy to succeed, foundation issues such as a competitive tax environment, skilled workforce and an enabling regulatory environment must be in place. It points out that achieving this will require collaboration across government departments and involvement from both the public and private sectors.

“The Industrial Strategy is a much-needed opportunity to boost economic growth and investment,” Jonny Haseldine, policy manager at the BCC, said.

“With millions of businesses now facing increased costs following last month’s Budget – even more is now riding on the government’s strategy. Firms in every corner of the UK need this plan to deliver at pace for their needs and their communities.

“The strategy needs to identify priority sectors which will drive growth – building on the past but crucially looking forward.

“But the industrial strategy will struggle unless other key obstacles to business investment are tackled. It must not be designed and implemented in isolation from other policy measures and strategies,” he added.

ALCHEMPro News Desk (SG)