Mrs May will use her first regional cabinet meeting to launch proposals for a modern industrial strategy to secure Britain’s place as a competitive, global nation.
A strategy green paper published on Monday (23rd January) will offer businesses a range of support such as addressing regulatory barriers to innovation and growth, and making it easier for businesses to access finance outside of London.
Other key tenets of the paper will include upgrading digital, transport and flood defence infrastructure, as well as a £556m cash boost for Northern Powerhouse jobs and business growth.
“The modern industrial strategy will back Britain for the long term: creating the conditions where successful businesses can emerge and grow, and backing them to invest in the long-term future of our country,” Mrs May stated.
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“It will be underpinned by a new approach to government, not just stepping back, but stepping up to a new, active role that backs business and ensures more people in all corners of the country share in the benefits of its success.”
The proposals will also encourage the creation of new institutions to boost skills, amid warnings from mayor of London Sadiq Khan that the government was ignoring the need for businesses to have access to a skilled workforce.
Business and energy secretary Greg Clark added: “This is an important step in building a modern, dynamic industrial strategy that will improve living standards and drive economic growth across the whole country.
“We are inviting businesses and workers to contribute to this vision to help us create a high-skilled economy where every place can meet its potential.”
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