BUSINESS INSIGHT
Addressing the productivity gap, Mr Clark said,
“Britain’s productivity performance has not been good enough, and it is holding back our earning power as a country”.
What does this mean for our readers The Industrial Strategy deliberately strengthens what the government sees as the five foundations of productivity: ideas, people, infrastructure, business environment and places. There is a vision for each and a range of polices designed to secure the UK’s competitive edge. The Industrial Strategy Challenge Fund
will invest £725 million in new industrial programmes to capture the value of innovation. This is underpinned by an increase in research and development (R&D) to 2.4 per cent of GDP by 2027. Innovations, people, infrastructure, business
environment and places are areas Relocate Global follows and the industrial strategy will give us an additional focus via our website and in the magazine as we continue to report on the developments and the strides that companies and education establishments are making regionally and in their work overseas. The importance of infrastructure is obvious. Investment in
transport covers big relocation sectors from the car industry, aeronautics, rail and shipping to construction companies and energy. Housing and property is fundamental to domestic relocation and ensuring that relocating talent is able to move to the critical locations where jobs and investment are to be found. This also translates to inward investment and managing multinational teams. The emphasis on places gives us the opportunity to look
at enterprise in the regions, local industrial strategies and the importance of connectivity and the relationship between industry, education and the economy. Commenting on the Industrial Strategy, Jüergen Maier,
CEO of Siemens UK, said, “Through today’s Industrial Strategy announcement, we are optimistic that through greater investment in R&D, and especially through the application of advanced industrial digital technologies such as AI and robotics, we can support many more new and existing manufacturing industries, raising productivity and creating thousands of new highly skilled and well-paid jobs”. Stephen Martin, director general of the Institute of Directors,
said the Industrial Strategy identifies the key challenges the UK economy will need to overcome if businesses are to remain competitive in an increasingly global race. It also takes some important steps in starting the flow of public
investment to overcome these hurdles. We hope it will become the cornerstone of a long-term vision of post-Brexit Britain; one that promotes innovation and the free flow of ideas. The UK economy relies on small businesses, and those involved
in relocation need to consider how they adapt their support to new and innovative organisations who are lacking in knowledge about the mobility industry and the complexity of working with overseas partners or setting up in a new dominion. Mike Cherry OBE, national chairman of Federation of Small
Businesses, said, “The UK’s 5.5 million small businesses have a huge role to play if we are to increase productivity across the economy, and in every sector. This is the only way to achieve sustained wage growth and higher living standards.”
Industrial Strategy, November 2017, HM Government
Innovation at the heart of the Industrial Strategy In the strategy, the government identifies the Grand Challenges: global trends that will shape our rapidly changing future and which the UK must embrace and lead to ensure we harness all of the economic and social opportunities they will bring. The first four are: • Artificial intelligence (AI): the rise of AI is changing the world we live in. The UK has to be at the forefront of this data-driven revolution and grasp the opportunities it presents through the AI sector deal
• Clean growth: the global shift to clean growth presents huge opportunities for innovation that the government and industry must take advantage of by backing the development, manufacture and use of low-carbon technologies
• Ageing society: to effectively meet the needs of an ageing population, the UK must harness innovations in medical care, technology and services
• Future mobility: from driverless cars to drone-delivered goods, the way we move people, goods and services is evolving rapidly, and the UK needs to be a world leader in shaping what the future of mobility looks like
SHOWCASE INNOVATION ACROSS YOUR ORGANISATION BY ENTERING THE RELOCATE AWARDS 2018
SEE PAGE 38
For more managment highlights and details of the industrial strategy, visit
relocateglobal.com
relocateglobal.com | 13
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60
