Mike Capaldi comments on the Industrial Strategy launch

Full and original article in New Civil Engineer

The UK government has launched its modern Industrial Strategy to attract private investment into eight growth driving sectors, which include manufacturing and clean energy industries but nothing else from the wider construction umbrella.

The Invest 2035 strategy is a “credible 10-year plan to deliver the certainty and stability businesses need to invest in the high growth sectors that will drive our growth mission” according to the Department for Business and Trade (DBT).

The eight high growth sectors that have been identified are advanced manufacturing; clean energy industries, creative industries; defence; digital and technologies; financial services; life sciences; and professional and business services. These are “sectors the UK excels in today and will excel tomorrow” according to DBT.

The government will design “ambitious and targeted” plans for each sector in partnership with business, devolved governments, regions, experts and other stakeholders “through bespoke arrangements tailored to each sector”.

The government believes that implementation of the strategy will create a pro-business environment to capture a greater share of internationally mobile investment in strategic sectors and motivate domestic businesses to boost their investment and scale up their growth. It says that by listening to businesses and experts it can “pull the most effective levers for our sectors and geographical clusters across the country”.

These policy areas will include people and skills, innovation, energy and infrastructure, the regulatory environment, crowding in investment and international partnerships and trade.

The green paper on the strategy has been launched and businesses are being invited to provide feedback via a consultation that runs until 24 November. This consultation gives stakeholders the opportunity to influence the ongoing development of the strategy, DBT said. Views are sought from business, international investors, unions and any other interested parties, on the overall vision, approach to growth sectors and the policy levers needed to drive investment.

The launch of the strategy is partnered with the launch of a new Industry Strategy Advisory Council, which is chaired by Microsoft UK chair Clare Barclay and will “provide expert advice developed in partnership with business, unions, and stakeholders from across the UK”, DBT said.

Reaction

Chancellor of the Exchequer Rachel Reeves MP said: “I have never been more optimistic about our country’s potential. We have some of the brightest minds and greatest businesses in the world. From the creative industries and life sciences to advanced manufacturing and financial services.

“This Government is determined to deliver on Britain’s potential so we can rebuild Britain and make every part of the country better off.”

Driving the Electric Revolution Industrialisation Centres (DER-IC) chair Mike Capaldi said: “DER-IC welcomes the Industrial Strategy Green Paper’s focus on advanced manufacturing and clean energy as key to future economic resilience. Power Electronics, Machines, and Drives (PEMD) play a crucial role in these sectors, from transportation to energy generation and industrial systems.

“Our partnerships demonstrate the value of collaboration between academia and industry, accelerating the commercialisation of technologies, reducing risks, and improving time to market for critical products. As the strategy develops, we hope to see PEMD recognised as a vital growth sector. With targeted support for strategic networks like DER-IC, the UK can enhance its innovation, strengthen supply chains, and secure global competitiveness by fostering relationships between academia and industry. DER-IC looks forward to contributing to this ambition.”