Names of the business leaders from across the UK being brought together to offer government independent advice and recommendations as it develops a new Industrial Strategy to support its growth mission have been announced.
Chancellor of the Exchequer Rachel Reeves and Business and Trade Secretary Jonathan Reynolds attended the inaugural Industrial Strategy Advisory Council meeting on 17 December.
The Industrial Strategy is to help maintain a pro-business environment to capture a greater share of internationally mobile investment and motivate domestic business to boost their investment and scale up their growth. It is to channel support to sectors and geographical clusters that are seen as having the highest growth potential for the next decade.
Members used the first meeting to discuss investment, innovation, and breaking down barriers to growth in key sectors as well as some emerging themes in responses to October’s Industrial Strategy Green Paper.
Rachel Reeves said:”Driving long-term economic growth requires ambition and collaboration. With the Industrial Strategy Advisory Council, we’re bringing together the brightest minds to inform our Industrial Strategy and deliver growth that will improve living standards and that can be felt across every corner of the UK.
“Focusing on growth-driving sectors, our highest potential city regions and clusters, and how the pro-business environment can help them thrive, the Council will also monitor and evaluate impact, with data and analysis central to this mission.”
The Council members will undertake an extensive programme of engagement to take account of views from businesses, academia, devolved governments and local leaders across the UK.
Business and Trade Secretary Jonathan Reynolds said:”The UK is one of the most connected places in the world to do business, and investors should be in no doubt that Britain is back on the global stage, helping attract investment into the most productive parts of the UK economy.
“Whether it is investment into new film studios, cutting-edge technologies, or green energy, the expertise and work of the Industrial Strategy Advisory Council will be key to giving investors the solid foundation on which to build, helping to support local skilled jobs and raising living standards in communities across the UK.”
The Council will be an independent body, reporting to the Chancellor and the Business and Trade Secretary. In the King’s Speech the government committed to putting the Council on a statutory footing – giving it powers and responsibilities and ensuring it will be permanent and independent.
The council is Chaired by Clare Barclay, President, Enterprise & Industry for EMEA at Microsoft. Membership of the Council includes ex-officio members providing cross-government join up on the government’s key missions.
Clare Barclay said:”Our mission is to provide a clear, independent voice on behalf of business, nations, regions, and trade unions, as we look to inform the development of the Industrial Strategy, helping to create a strong business environment which will help our growth-driving sectors thrive.”
Full list of Industrial Strategy Advisory Council members:
- Clare Barclay, President, Enterprise & Industry, EMEA, Microsoft (Chair)
- Professor Dame Nancy Rothwell DBE, former Vice Chancellor of the University of Manchester (Deputy Chair)
- Kate Bell, Assistant General Secretary of the Trades Union Congress
- Rt Hon Greg Clark, Executive Chair, University of Warwick Innovation District
- Professor Dame Diane Coyle, Bennett Professor of Public Policy, University of Cambridge
- Dame Anita Frew DBE, Chair, Rolls-Royce Holdings
- Chris Grigg, Chair of the National Wealth Fund (ex officio)
- Greg Jackson, CEO, Octopus Energy
- Sir John Kingman, Chair, Legal & General and Chair, Barclays UK
- Tunde Olanrewaju, Senior Partner, McKinsey
- Professor Henry Overman, Professor of Economic Geography, LSE
- Henrik L. Pedersen, CEO, Associated British Ports
- Richard Pennycook, interim Chair, Skills England (ex officio)
- Dr Aislinn Rice, Non-Executive Director, Software NI
- Roy Rickhuss, General Secretary, Community Trade Union
- Baroness Shriti Vadera, Chair, Prudential plc and Chair, The Royal Shakespeare Company