Government launches Industrial Strategy Advisory Council to boost growth and living standards
The government has announced the members of the Industrial Strategy Advisory Council, as the government looks to deliver long-term growth in key sectors.
- Government partners with private sector to grow the economy and bring good jobs to every part of the UK.
- Members of the Industrial Strategy Advisory Council unveiled as the government looks to deliver long-term growth in key sectors.
- Members include Dame Anita Frew, Chair of Rolls-Royce and Greg Jackson CBE, CEO of Octopus Energy.
- Bringing together experts from businesses, academia and trade unions from across the UK, the Council will inform the development of a new modern Industrial Strategy.
Business leaders from across the UK have been brought together to offer government independent advice and recommendations as it develops a new, modern Industrial Strategy to support the growth mission.
The strategy will help maintain a pro-business environment to capture a greater share of internationally mobile investment and motivate domestic business to boost their investment and scale up their growth. It will channel support to sectors and geographical clusters that have the highest growth potential for the next decade.
This government wants the UK to be a prime investment opportunity for business. The Industrial Strategy, and the Industrial Strategy Advisory Council, will be key to giving investors the solid foundation on which to build.
An integral part of the government’s Plan for Change to kickstart economic growth, the Industrial Strategy will focus on promoting the UK’s key growth-driving sectors.
The Chancellor of the Exchequer Rachel Reeves and Business and Trade Secretary Jonathan Reynolds will attend the inaugural Industrial Strategy Advisory Council meeting to hear from its members as it meets for the first time today [Tuesday 17 December].
Hosted at Lloyds Insurance in London, members will use the first meeting to discuss investment, innovation, and breaking down barriers to growth in key sectors as well as some emerging themes in responses to October’s Industrial Strategy Green Paper.
The government is determined to go for growth and to work in partnership with business, civil society, trade unions, local leaders and devolved governments to invest in Britain’s future so we can make every part of the country better off.
Chancellor of the Exchequer Rachel Reeves said:
Driving long-term economic growth requires ambition and collaboration.
With the Industrial Strategy Advisory Council, we’re bringing together the brightest minds to inform our Industrial Strategy and deliver growth that will improve living standards and that can be felt across every corner of the UK.
Focusing on growth-driving sectors, our highest potential city regions and clusters, and how the pro-business environment can help them thrive, the Council will also monitor and evaluate impact, with data and analysis central to this mission.
Following today’s meeting, Council members will embark on an extensive programme of engagement to take account of views from businesses, academia, devolved governments and local leaders across the UK, building on the more than 3,000 consultation responses received in response to October’s Green Paper.
Business and Trade Secretary Jonathan Reynolds said:
The UK is one of the most connected places in the world to do business, and investors should be in no doubt that Britain is back on the global stage, helping attract investment into the most productive parts of the UK economy.
Whether it is investment into new film studios, cutting-edge technologies, or green energy, the expertise and work of the Industrial Strategy Advisory Council will be key to giving investors the solid foundation on which to build, helping to support local skilled jobs and raising living standards in communities across the UK.
The Council will be an independent body, reporting to the Chancellor and the Business and Trade Secretary. In the King’s Speech the government committed to putting the Council on a statutory footing – giving it powers and responsibilities and ensuring it will be permanent and independent.
Chaired by Clare Barclay, President, Enterprise & Industry for EMEA, Microsoft, the Council will inform and monitor both the development and delivery of the Industrial Strategy over the long term, ensuring policy interventions are informed by a broad and high-quality evidence base. Membership of the Council includes ex-officio members providing cross-government join up on the government’s key missions.
Clare Barclay, President, Enterprise & Industry, EMEA and Chair of the Industrial Strategy Council said:
I’m delighted to join together with members of the Industrial Strategy Advisory Council today for our inaugural meeting.
Our mission is to provide a clear, independent voice on behalf of business, nations, regions, and trade unions, as we look to inform the development of the Industrial Strategy, helping to create a strong business environment which will help our growth-driving sectors thrive.
The Industrial Strategy is at the heart of the government’s Plan for Change with investment and reform to deliver growth, putting more money in people’s pockets, rebuilding Britain and securing our borders in a decade of national renewal.
Full list of Industrial Strategy Advisory Council members:
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Clare Barclay, President, Enterprise & Industry, EMEA, Microsoft (Chair)
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Professor Dame Nancy Rothwell DBE, former Vice Chancellor of the University of Manchester (Deputy Chair)
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Kate Bell, Assistant General Secretary of the Trades Union Congress
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Rt Hon Greg Clark, Executive Chair, University of Warwick Innovation District
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Professor Dame Diane Coyle, Bennett Professor of Public Policy, University of Cambridge
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Dame Anita Frew DBE, Chair, Rolls-Royce Holdings
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Chris Grigg, Chair of the National Wealth Fund (ex officio)
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Greg Jackson, CEO, Octopus Energy
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Sir John Kingman, Chair, Legal & General and Chair, Barclays UK
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Tunde Olanrewaju, Senior Partner, McKinsey
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Professor Henry Overman, Professor of Economic Geography, LSE
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Henrik L. Pedersen, CEO, Associated British Ports
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Richard Pennycook, interim Chair, Skills England (ex officio)
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Dr Aislinn Rice, Non-Executive Director, Software NI
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Roy Rickhuss, General Secretary, Community Trade Union
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Baroness Shriti Vadera, Chair, Prudential plc and Chair, The Royal Shakespeare Company
ENDS
Notes to Editors
- In October, the government set out its vision for a new, modern Industrial Strategy, which will be a credible, 10-year plan to deliver the certainty and stability businesses need to invest in high-growth sectors.
- The strategy will create a pro-business environment, support high-potential clusters across the country and deliver growth that is supportive of Net Zero, regional growth, and economic security and resilience.
- The Green Paper can be found here: https://www.gov.uk/government/consultations/invest-2035-the-uks-modern-industrial-strategy
- The consultation received over 3000 in responses from a diverse mix of individuals, businesses, academics, think tanks, and unions. 259 responses came from business representative organisations, collectively representing hundreds of thousands of businesses across the UK.
- The ISAC gov.uk page can be found here: https://www.gov.uk/government/organisations/industrial-strategy-advisory-council?cachebust=1733396875