Views sought on new industrial strategy

Senior ministers were in the region today outlining how the vision for a modern industrial strategy will benefit the West Midlands.

Small Business Minister Margot James, the Stourbridge MP, was at the North Worcestershire Engineering Centre of Excellence in Redditch and Chancellor of the Exchequer Philip Hammond was visiting General Electric in Stafford this afternoon.

The Green Paper – Building our Industrial Strategy – will outline 10 key pillars for industrial strategy, including driving growth across the country, boosting infrastructure and skills

It aims to close the gap between Britain's most productive companies, industries, places and people and the rest and make Britain one of the most competitive places in the world to start or grow a business.

There is a 12-week consultation period during which contributions are invited from industries, businesses, local groups and workers across the West Midlands.

Margot James said: "Some of the UK's finest exports begin life in the West Midlands – on the roads in Land Rovers and Bugatti Veyrons, in the air on the Airbus A320 and A380, beneath the sea in US Navy deep-dive submarines, and out in space, photographing the surface of Mars. Through our industrial strategy and Midlands Engine strategy we will build on these extraordinary local strengths and create new opportunities and jobs in other industries and sectors.

"We must step up with a long term atrategy that is ambitious for every area of the UK, delivering higher wages, more skilled jobs and improved living standards ensuring every area reaches its full potential.

"Leaving the EU allows us to make fresh choices about how we shape our economy through a modern Industrial Strategy and we want people in the West Midlands to have their say. This will help ensure that economic growth is more evenly shared – giving an upgrade to the economy that will work for everyone."

Sara Williams, Chief Executive of Staffordshire Chambers of Commerce, said: "It is an exciting time to create an industrial strategy as a blueprint for guiding businesses and government to work together to achieve prosperity for all. Staffordshire Chambers members are looking forward to the positive impact an industrial strategy will have in supporting businesses' competitiveness, helping with productivity gains, and recognising the importance of businesses' contribution to the places where they are based."

Today's Green Paper launch follows the announcement of significant initial actions for the Industrial Strategy, including the £4.7 billion increase in research and development funding, unveiled by Mr Hammond at last year's Autumn Statement.