Today (27 November 2017) the Government has launched the Industrial Strategy White Paper, that sets out a long-term plan to boost the productivity and earning power of people throughout the UK.
Within the document it is acknowledged that the people best placed to drive forward local economies are those who live, work and do business in them. There is a desire to harness this local insights to ‘develop clear, long-term strategies for future growth – this approach is vital to successful local economies.’
Working in partnership with places to develop Local Industrial Strategies, the Government will agree locally developed plans that help identify priorities to improve skills, increase innovation, enhance infrastructure and business growth. This will guide the use of local funding streams and any spending from national schemes.
Local Industrial Strategies will be long-term, based on clear evidence, and aligned to the national Industrial Strategy. They will identify local strengths and challenges, future opportunities and the action needed to boost productivity, earning power and competitiveness. This might include addressing skills issues, improving infrastructure, harnessing the potential of world-class science and innovation, supporting new high-value businesses, or identifying leading sectors to inform the development of deals.
Nick Pulley, Chair of the Leicester and Leicestershire Enterprise Partnership (LLEP) said “We are delighted that the Government remains firmly committed to Local Enterprise Partnerships (LEPs), and has confidence in our ability to set clearly defined activities and objectives for our area’s economic success.
“From next year, the Prime Minister will chair a biannual ‘Council of Local Enterprise Partnership Chairs’. This will provide an opportunity for LEP leaders to inform national policy decisions.”
The Industrial Strategy also commits to make additional financial resources available to LEPs to support the expectation that they will take a lead role to develop plans for ambitious levels of strategic growth.
Download a copy of Industrial Strategy: building a Britain fit for the future
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