CBI responds to Government's Industrial Strategy

Rain Newton-Smith, Chief Executive, CBI said:

"The government has set out a credible, long-term Industrial Strategy, which focuses on the areas of the economy where the UK can genuinely compete and win global market share. This sends a clear and positive signal-not just about the UK's economic ambitions but also about the country's global position and direction of travel for the next decade and beyond.

"The CBI has long been advocating for a comprehensive industrial strategy, based on the UK's USP - the sectors and markets where we can compete to win on the global stage. Firms will welcome the acknowledgement of the integral role of foundational sectors in delivering growth and the strategy's objectives.

"To ensure success, investors need to see the right conditions in place for the Industrial Strategy to truly deliver - and nothing matters more than competitive energy prices for our core industries and growth sectors, plus easier access to the talent they need to thrive."

Commenting on the package of measures alongside the Industrial Strategy to support firms, including:

• Tackling uncompetitive electricity prices for energy hungry businesses to ensure UK industries can compete with the rest of Europe.

• Putting clean energy industries at the heart of the UK's growth strategy, with support to develop networks and UK supply chains.

• Making it easier for employers to access and attract the skilled workforce needed to grow, including additional investment in upskilling and levy flexibility for much needed skills boosts in areas like digital.

Rain Newton-Smith added:

"The ambition is there. The direction of travel is right. But delivery is everything. Business leaders across the UK will roll up their sleeves to deliver this strategy, at pace, to achieve our shared purpose of raising living standards across the country with an eagle-eye on our overall competitiveness and growth."