Proactive Investors - Britain’s government has pledged to “hardwire stability for investors” through a new industrial strategy ahead of a major summit on Monday.
In the UK's first industrial strategy in seven years, the government said eight growth sectors would be in focus.
These include the advanced manufacturing, clean energy, creative, defence, digital, financial, life science and professional service sectors.
An interim Industrial Strategy Advisory Council, chaired by Microsoft Corp (NASDAQ:MSFT) UK chief executive Clare Barclay, will also be set up in partnership with firms, unions and stakeholders, the government added in a press release.
“Our modern industrial strategy will hardwire stability for investors,” business secretary Jonathan Reynolds commented.
“[This will] give them the confidence to plan not just for the next year, but for the next 10 years and beyond.
It comes ahead of London’s International Investment Summit on Monday, which is due to be attended by executives from some of the world’s largest companies.
According to Sky News, over £50 billion worth of investment plans are set to be unveiled at the summit, with the government noting a green paper to support these would also be released.
“This is the next step in our pro-worker, pro-business plan which will see investors and workers alike get the security and stability they need to succeed,” Reynolds said.
Chancellor Rachel Reeves added: “I have never been more optimistic about our country’s potential.
“We have some of the brightest minds and greatest businesses in the world.”