Industrial Strategy

Several Labour MPs asked the Secretary of State for Business and Trade, Jonathan Reynolds, about the progress made on introducing an industrial strategy. In his response, the Secretary of State expressed his enthusiasm for the industrial strategy and stated that the government is committed to supporting British manufacturing and capturing a greater share of international investment. He highlighted the need to improve the UK's business investment performance, which has been the lowest in the G7 for some time, and acknowledged the importance of providing consistency and choosing priority sectors. The Secretary of State assured the MPs that their constituencies, such as the Black Country, Teesside, and northern Lincolnshire, would play a major role in the success of the strategy. The follow-up questions from the Labour MPs focused on specific aspects of the industrial strategy, such as supporting green jobs and manufacturing, protecting the voluntary sector's voice, providing good-quality unionised jobs, and driving innovative decarbonisation solutions for the automotive industry. The Secretary of State responded positively to these concerns, emphasizing the government's commitment to working in partnership with businesses, civil society, trade unions, and local and regional leaders to deliver the industrial strategy. Conservative MP George Freeman expressed his support for the industrial strategy and urged the Secretary of State to ensure that the government's work is not limited to "endless earnest, well-intended committees" but engages with small businesses, entrepreneurs, and investors driving the sectors of the future. The Secretary of State welcomed the cross-party support and acknowledged the need for the industrial strategy to have consistency and permanence. Liberal Democrat MP Tim Farron raised the issue of workforce strategy, highlighting the challenges faced in his constituency of Westmorland and Lonsdale, such as a lack of affordable housing and the inability to bring in workers from overseas. The Secretary of State recognized the importance of addressing local and regional challenges and indicated that the government would consider practical, pragmatic measures to address these concerns.