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Minister outlines Government’s new industrial strategy 17.10.14

Minister of State for Business and Enterprise on plans to boost British manufacturing

Matthew Hancock MP gave a speech on 13th October outlining the Government’s Industrial Strategy, a renewed commitment to invest in ‘Eight Great Technologies’, ushering in an era of unprecedented cross-sector collaboration between academia, business and government.

He explained the ultimate purpose of new initiatives from the UK Centre for Maritime Intelligent Systems in Portsmouth to the Red Tape Challenge project to amend or abolish cumbersome regulations.

Hancock argued that the policy of financing technological ‘clusters’ marked a radical departure from previous governments that aimed to redistribute industrial success from one region to another; the new strategy is to foster continued growth in locations that already demonstrate particular skills and expertise.

He finished by outlining plans to support all sectors of industry from pharmaceuticals to aerospace in order to create a balanced economy.

Read the full speech here.