Industrial strategy promises major boost to United Kingdom training and research
28 November, 2017, 01:26 | Author: Irene Delgado
The strategy is also created to encourage private sector investment and the government announced today that it has secured a major strategic investment into United Kingdom by world leading life sciences company MSD.
The Government has vowed to spend 2.4% of GDP on R&D by 2027, which it hopes will an extra £80bn in advanced technology in the next 10 years.
But the Government's 255-page new strategy said that by 2046, almost 25 per cent of the population will be over 65.
She said: "Nothing in the White Paper will help give businesses the certainty or incentives they need to invest in the face of the Government's catastrophic handling of Brexit".
According to the United Kingdom government, the deal with MSD is one of four new agreements, with the others covering construction, artificial intelligence and automotive.
The government will invest a further £725 million over the next three years in the Industrial Strategy Challenge Fund, to be matched by private investment, to support these grand challenges. Today's announcement must be the beginning of a strategic race, not a tactical sprint.
"This investment presents a major opportunity for us to work in collaboration with the UK Government to build on the forward thinking and ambitious Industrial Strategy White Paper published by the Government".
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Unveiling the Strategy this morning, BEIS Secretary Clark said: "The way we earn and live our lives as workers, citizens and consumers is being transformed by new technologies". The green paper was announced to much fanfare earlier this year, however our recent Future Attitudes study, which surveyed over a thousand senior SME decision makers across the United Kingdom, revealed an astonishing lack of awareness about the Strategy, with fewer than three in ten (29 per cent) small and medium-sized enterprises claiming to have heard about it...
Nuclear and offshore wind will still be in the centre of the country's low-carbon energy policy, as the government pledges to pursue further opportunities for clean heating and potential uses of hydrogen.
"Investments by world-renowned companies like MSD and QIAGEN demonstrate that the UK's science base is truly world-leading and an exceptional national strength".
It is intended that the UK Discovery Centre will become the location for MSD's UK HQ, making the central London site a unique location within the UK pharmaceutical sector. And German diagnostics expert Qiagen will spend billions on a campus in Manchester to lead work on genomics, creating 800 jobs. This could mean around £80 billion of additional investment in advanced technology in the next decade, helping to transform whole sectors, create new industries, and support innovation across the country.
CEO Dr Colin Church says "CIWM was looking for the Industrial Strategy White Paper to recognise the role improving resource productivity can play in helping the United Kingdom economy meet the challenges it faces".
Louise Houson, managing director of MSD in the United Kingdom and Ireland, said: "We believe London to be a unique bioscience centre of excellence and a key component of the established golden triangle for academic science of London-Oxford-Cambridge". Government will be working with industry and academia to deliver this goal. Two of the five "foundations" of Clark's strategy are people and places, and of the four "grand challenges" two are our ageing society and clean growth.
In addition to stating that these challenges will shape our ever changing future, the Government also believe that they represent a chance for United Kingdom business, academia and civil society to work collaboratively and take advantage of these opportunities through harnessing technology.
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Parliament's winter session from December 15
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