THE Government’s industrial strategy must include a commitment to devolve powers to the UK’s regions, according to the CBI.
The CBI is calling on the Government to appoint an independent commissioner to ensure all regions of the UK have “appropriate” levels of devolution so they can deliver the industrial strategy.
The CBI wants the Government to commit to setting targets that will measure the success of the new strategy, including an assessment of how economic activity is dispersed across the country.
The Government has set out draft plans for its new industrial strategy, which is designed to tackle the UK’s long-term productivity gap compared with other major economies.
Carolyn Fairbairn, the CBI Director-General, said: “The UK is at the foothills of extraordinary change, as we look to redefine our role in the world and adapt to rapid technological advances in the workplace.
“A new industrial strategy must aim to make the UK economy the most competitive in the world by 2030. We must build on our leading knowledge base, drive a renaissance in our traditional heartlands of manufacturing, and create a new wave of entrepreneurship by making the UK the easiest place to start and grow a business. By doing this we can raise productivity and improve lives in every community up and down the country.
“This vision should not be created solely by business, nor by Government. It must be created and owned by business, Government and society together. To make this happen, it must be underpinned by a partnership between business and government that is the best in the world, based on trust and shared interest. This will be a significant driver of competitive advantage for the UK, ensuring that planning and execution is coordinated at every stage, and that every investment moves our country and prosperity forward in a way that is fair and sustainable.”