17 April 2017 – The Prince of Wales’s Corporate Leaders Group provided a written submission to the UK Government Green Paper on Industrial Strategy.
The Government has stated that it wants to build an industrial strategy that addresses long-term challenges to the UK economy. Its aim is to improve living standards and economic growth by increasing productivity and driving growth across the whole country. The green paper set out the approach and some early actions they had committed to take. It was not intended to be the last word, but instead to start a consultation.
The CLG released a business discussion paper in January in order to inform a consultation response. The paper argued that the UK can have a bright future if Government and business work together to ensure the country can participate in the industries of tomorrow.
The paper identified four trends that the Government’s industrial strategy should respond to:
- growing demand for different types of industrial products, partly as a result of digitalisation
- the move to a sharing economy where services are sold in lieu of physical objects
- changes in the way industrial products are produced, including as a result of increased reuse and recycling
- changes to the nature and availability of key inputs, including energy.
The CLG has since broadened this business discussion by hosting an event with members of the BEIS Select Committee and used this to inform their response to the UK consultation.
