King’s Speech: Industrial Strategy Can Release Business Ambition

Responding to today’s King’s Speech, Shevaun Haviland, Director General of the British Chambers of Commerce, said: 

“The commitment to an industrial strategy could put in place a framework to unleash the pent-up ambition of British business to grow the economy.

“If we use it to make green innovation a key driver of that growth, and link it to a coherent plan around skills, trade, devolution, and AI, then the possibilities could be endless.

“Billions of pounds of private investment have been held back by businesses which have been watching and waiting for long-term certainty in the economy.

“The Government’s clear intention to speed up the planning system for large scale infrastructure can feed that business confidence, if it can be delivered. Measures to increase business resilience, reform of the apprenticeship levy and legislation to support sustainable aviation fuel could also boost the economy.

“Placing decision-making and funding in the hand of the people closest to their local economies, and the issues they face, while increasing a collaborative approach will also be welcomed.

“There are still big issues that need to be addressed. Improving our trade relationship with the EU will not be straightforward, and there will need to be detailed consultation with business on the Plan to Make Work Pay.

“But there is much in today’s speech which shows the voice of business has been heard and that Government is introducing measures that benefit firms and help unlock investment. 

“We want to work in partnership with the Government to make this happen and shift the economy out of first gear to get it motoring again.”