February 2017
Featured in this insight: Central government & non-department public bodies, Manufacturing, engineering & industrial
Survey reveals the main priority for the Government’s industrial strategy: According to a recent survey of business leaders, the government’s new industrial strategy must make improving the skills and infrastructure in Great Britain their main priority, rather than subsidising large companies who are in deep water.
The survey findings also suggests that businesses do not support rescue deals, for example, the government’s proposed support for the steel industry.
In the near future, Prime Minister, Theresa May and the business, energy and industrial strategy secretary, Greg Clark, are anticipated to reveal the industrial strategy for the United Kingdom. In this strategy, they are expected to lay out the government’s approach to key industries, as well as issues such as skills, regulation, infrastructure and development.
The survey, which was conducted by the Institute of Directors, revealed that approximately 90 per cent of business leaders were in favour of the introduction of the industrial strategy.
Of the survey respondents, 95 per cent placed an importance on developing skills and a further 29 per cent said that providing money for large companies which are struggling should be incorporated into the strategy. A further 83 per cent said they felt that new, large-scale infrastructure is a top priority; however, 94 per cent said that they wanted to place a focus on improving the United Kingdom’s existing infrastructure.
The survey findings collected were based on an industrial market research survey of 844 members of the Institute of Directors.
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