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Industrial strategy welcomed as part of government's new business policy Industrial strategy welcomed as part of government's new business policy
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Business leaders have overwhelmingly welcomed Theresa May’s decision to merge the government’s business and energy departments and add the phrase “industrial strategy” into the title, claiming it could allow the UK to build a long-term economic plan.Business leaders have overwhelmingly welcomed Theresa May’s decision to merge the government’s business and energy departments and add the phrase “industrial strategy” into the title, claiming it could allow the UK to build a long-term economic plan.
The new Conservative prime minister has appointed Greg Clark as the secretary of state for the new department of business, energy and industrial strategy. Clark replaces Sajid Javid, the former business, innovation and skills secretary, who has been moved to communities and local government. The new Conservative prime minister has appointed Greg Clark as the secretary of state for the new department of business, energy and industrial strategy. Clark replaces Sajid Javid, the former business, innovation and skills secretary, who has been moved to communities and local government to take over Clark’s old job.
The decision marks a change of direction for the Conservative government and its approach to business. Javid, a former investment banker, had expressed his dislike at the phrase industrial strategy, suggesting the approach of his Liberal Democrat predecessor Sir Vince Cable had alienated industries that were not part of the plan.The decision marks a change of direction for the Conservative government and its approach to business. Javid, a former investment banker, had expressed his dislike at the phrase industrial strategy, suggesting the approach of his Liberal Democrat predecessor Sir Vince Cable had alienated industries that were not part of the plan.
However, Clark said he had been “charged with delivering a comprehensive industrial strategy”. The EEF, the trade body for manufacturers, said the changes demonstrated a “new, serious purpose”, while the CBI said it had long called for an industrial strategy.However, Clark said he had been “charged with delivering a comprehensive industrial strategy”. The EEF, the trade body for manufacturers, said the changes demonstrated a “new, serious purpose”, while the CBI said it had long called for an industrial strategy.
Juergen Maier, the UK chief executive of Siemens, said on Twitter: “Like the emphasis of new business department -business, energy and industrial strategy. Looking forward to getting stuck in.” Jürgen Maier, the UK chief executive of Siemens, said on Twitter: “Like the emphasis of new business department -business, energy and industrial strategy. Looking forward to getting stuck in.”
Before becoming an MP, Clark worked for Boston Consulting Group, the global management consultancy firm, and the BBC, where he was controller of commercial policy.Before becoming an MP, Clark worked for Boston Consulting Group, the global management consultancy firm, and the BBC, where he was controller of commercial policy.
Clark, who was born in Middlesbrough, has previously served as cities minister, financial secretary to the treasury, universities minister, and the communities and local government secretary. He was elected as the MP of Tunbridge Wells in 2005, replacing Archie Norman, the former Asda boss and ITV Chairman Clark, who was born in Middlesbrough, has previously served as cities minister, financial secretary to the Treasury, universities minister and the communities and local government secretary. He was elected as MP for Tunbridge Wells in 2005, replacing Archie Norman, the former Asda boss and ITV chairman.
Clark said on Thursday night: “I am thrilled to have been appointed to lead this new department charged with delivering a comprehensive industrial strategy, leading government’s relationship with business, furthering our world-class science base, delivering affordable, clean energy and tackling climate change.”Clark said on Thursday night: “I am thrilled to have been appointed to lead this new department charged with delivering a comprehensive industrial strategy, leading government’s relationship with business, furthering our world-class science base, delivering affordable, clean energy and tackling climate change.”
His first tasks will include resolving the crisis in the steel industry and making a final decision about whether to build a new nuclear power station at Hinkley Point.His first tasks will include resolving the crisis in the steel industry and making a final decision about whether to build a new nuclear power station at Hinkley Point.
Terry Scuoler, chief executive of the EEF, said: “This is a welcome move and demonstrates a new, serious purpose to this Government reflective of the times. Terry Scuoler, chief executive of the EEF, said: “This is a welcome move and demonstrates a new, serious purpose to this government reflective of the times.
“Now that energy and business policy are merged, we have the makings of an industrial strategy that will focus on UK competitiveness and will provide support to our sector as it seeks to overcome the challenges and seize opportunities from the decision to leave the EU.“Now that energy and business policy are merged, we have the makings of an industrial strategy that will focus on UK competitiveness and will provide support to our sector as it seeks to overcome the challenges and seize opportunities from the decision to leave the EU.
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“In light of the challenges ahead, this move is all to the good and should prove to be a powerful tool in driving growth and delivering a more balanced economy. We look forward to working with the new secretary of state to ensure that our sector continues to deliver jobs, growth and prosperity throughout the UK,” “In light of the challenges ahead, this move is all to the good and should prove to be a powerful tool in driving growth and delivering a more balanced economy. We look forward to working with the new secretary of state to ensure that our sector continues to deliver jobs, growth and prosperity throughout the UK.”
The CBI said an industrial strategy is needed to boost investment and innovation in the UK and support small and medium-sized businesses. Rain Newton-Smith, CBI chief economist, said: “Our manufacturers will welcome the new Government’s emphasis on delivering a true partnership with businesses across all sectors. The CBI said an industrial strategy is needed to boost investment and innovation in the UK and support small and medium-sized businesses. Rain Newton-Smith, CBI chief economist, said: “Our manufacturers will welcome the new government’s emphasis on delivering a true partnership with businesses across all sectors.
“We look forward to working with the new secretary of state for business, energy and industrial strategy, the Chancellor and their colleagues across the Government to deliver the very best environment for British business to create jobs, growth and prosperity for everyone, across the country.” “We look forward to working with the new secretary of state for business, energy and industrial strategy, the chancellor and their colleagues across the government to deliver the very best environment for British business to create jobs, growth and prosperity for everyone, across the country.”
However, the British Chambers of Commerce warned that it was vital that the new government department closely worked with Liam Fox’s international trade department. It also called for stability in the government’s dealings with business. Clark is the third business secretary in just over a year, following in the footsteps of Javid and Cable, who held the role while the coalition was in government between 2010 and 2015. However, the British Chambers of Commerce (BCC) warned that it was vital that the new government department closely worked with Liam Fox’s international trade department. It also called for stability in the government’s dealings with business. Clark is the third business secretary in just over a year, following in the footsteps of Javid and Cable, who held the role while the coalition was in government between 2010 and 2015.
Adam Marshall, acting director-general of the BCC, said: “Businesses like continuity. They will hope that the people being appointed now will be in place for some period of time.” Adam Marshall, acting director general of the BCC, said: “Businesses like continuity. They will hope that the people being appointed now will be in place for some period of time.”
Javid, an advocate of free markets, had frustrated business leaders by reining back from Cable’s industrial strategy, which saw the Liberal Democrat focus on growing Britain’s high-technology engineering sectors, such as aerospace and car manufacturing. Javid was accused of keeping industries at arms length, although he said that he had simply shifted from an industrial strategy to an “industrial approach”. Javid, an advocate of free markets, had frustrated business leaders by reining back Cable’s industrial strategy and its focus on expanding Britain’s high-technology engineering sectors, such as aerospace and car manufacturing. Javid was accused of keeping industries at arm’s length, although he said that he had simply shifted from an industrial strategy to an “industrial approach”.
Javid said in March at the Lord Mayor’s trade and industry dinner that Cable’s approach was “well-regarded among those it benefited” but was also “strictly limited”. He added: “I’m not trying to pick winners. I’m working to create the conditions in which all British businesses can thrive. My approach can best be described as non-interventionist but highly engaged.” Javid said in March at the Lord Mayor’s trade and industry dinner that Cable’s approach was “well regarded among those it benefited” but was also “strictly limited”. He added: “I’m not trying to pick winners. I’m working to create the conditions in which all British businesses can thrive. My approach can best be described as non-interventionist but highly engaged.”
However, Javid was forced to intervene in the steel industry after Tata Steel announced in March that it was considering pulling out of the UK, putting 15,000 jobs at risk. Javid was heavily criticised for not doing to more to help the steel industry in the run-up to Tata Steel’s announcement. He was in Australia with his daughter when the Indian company revealed its intentions.However, Javid was forced to intervene in the steel industry after Tata Steel announced in March that it was considering pulling out of the UK, putting 15,000 jobs at risk. Javid was heavily criticised for not doing to more to help the steel industry in the run-up to Tata Steel’s announcement. He was in Australia with his daughter when the Indian company revealed its intentions.