The Department for Business and Trade published the Industrial Strategy Green Paper on 14 October, and a consultation on it that closes on 24 November. The final 10-year Invest 2035 strategy will be published in the spring and will be focused on fostering growth in eight high-potential sectors.
It also highlights that the success of these growth-driving sectors will be informed by critical ‘foundational sectors’, which are yet to be identified, and by a pro-business environment informed by people and skills, innovation, energy and infrastructure, the regulatory environment, crowding in investment and international partnerships and trade.
Of the eight growth-driving sectors, the first five in the order we have listed them are underpinned to a greater or lesser extent by logistics: advanced manufacturing, clean energy industries, defence, life sciences, creative industries, digital and technologies, professional and business services, and financial services.
The Green Paper also highlights some key policies for our sector that have already been announced: establishing Skills England to improve the skills system, the introduction of a Growth and Skills Levy to replace the Apprenticeships Levy, planning reforms, the development of a 10-year infrastructure strategy, Local Growth Plans, and the aim of improving the trading relationship with the EU.
Clare Barclay, CEO of Microsoft UK, will chair the government’s Industrial Strategy Advisory Council and there will also be an Industrial Strategy Forum to inform the development of the final strategy.
- In Logistics UK’s submission, we will highlight how we are a foundational sector for the growth-driving sectors, and how our success in achieving that is informed by the business environment, and the policy areas set out in the Green Paper. We will also seek membership of the Industrial Strategy Forum and Council.
The UK government’s new Industrial Strategy outlines a 10-year plan to foster growth in high-potential sectors by creating a stable and pro-business environment. The strategy focuses on overcoming barriers to investment, enhancing job quality, and ensuring impactful growth across the UK. The key sectors for the logistics industry include advanced manufacturing, clean energy industries, digital and technologies, and professional and business services, but the industry is heavily involved in all sectors mentioned. The strategy focusses on capturing international investment, boosting domestic business growth, and leveraging the UK’s strengths in research, innovation, and skilled workforce to achieve economic growth.
Key policies include the establishment of Skills England to improve the skills system, the introduction of a Growth and Skills Levy to replace the Apprenticeships Levy, and the creation of Great British Energy to invest in clean energy generation. The strategy also includes significant planning and infrastructure reforms, the development of a 10-year infrastructure strategy, and the formation of a National Wealth Fund to unlock private investment. Additionally, the strategy aims to enhance international trade relationships, particularly with the EU, and to support high-potential clusters and city regions through targeted Local Growth Plans. These measures are designed to create a pro-business environment that supports investment, innovation, and growth across the UK.
- Logistics UK is holding a Teams call with members on 31 October following the Budget announcement and, in this call, we will be seeking feedback on the industrial strategy consultation. Please register for the call here.
