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INVESTMENT


Industrial strategy A


As the march towards Brexit continues, in January the government published a green paper outlining its industrial strategy. Coincidence? What are the differences now? Will this be a sticking plaster to patch up the consequences of Brexit, or can it lead to something more tangible in the long term? Andy Pye looks at some industry responses


coherent industrial strategy is long overdue, says Carolyn Fairbairn, CBI director-general: “The CBI has long called for a newindustrial strategy and it’s welcome to see the government creating an


opportunity for all sectors to get involved. Amodern industrial strategywill be a landmark opportunity to build a successful,modern economy as the foundation for a prosperous, fairer andmore inclusive society. It must help fix the country’s productivity problems and remove the regional inequalities that have dogged our country for generations, having a positive impact on living standards,wages and the future opportunities ofmany people.” The aimof the government’s industrial strategy is


to determine priority areas of investment in science, research and innovation to support theUK’s world leading sectors. TheresaMay is turning to state intervention to boost struggling industries. Deregulation and state aid are top of the agenda as the government changes tack.UnderDavid Cameron, the government pursued amore hands-off


‘ Five sectors


are likely to receive government support: nuclear, life sciences, low-carbon- emission vehicles and the creative sector





approach to encouraging business growth. May’s plan for boosting Britain’s post-Brexit


economy will rely heavily on state intervention as the government looks to exploit the impending removal of EUstate aid rules. According to the green paper, the government will offer a “range of support” to struggling sectors following theUK’s exit fromthe EuropeanUnion, including deregulation and state assistance in trade deals. TheModern Industrial Strategy, as set out in the


green paper, is based on 10 “pillars”, including developing technical skills, upgrading infrastructure, encouraging growth across theUK and improving public procurement.May has identified five sectors that are likely to receive government support: nuclear, life sciences, low-carbon-emission vehicles, industry 4.0 and the creative sector. Themarked departure announced byMay would


only be possible as a result of theUK leaving the EU. As an EUmember state, the government is restricted in the level of support it can give to businesses. The government has earmarked £4.7bn in funding


 February 2017 /// Environmental Engineering /// 49


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