One year ago today the Government launched the Industrial Strategy White Paper, aimed at building on the UK’s competitive strengths in order to boost productivity and enable UK companies to grow.
Partnership between industry and Government has delivered real results in our sectors and it is important that this approach is embedded across our economy.
Aerospace has been a trailblazer for the industrial strategy; since the creation of the Aerospace Growth Partnership and the Aerospace Technology Institute (ATI) through its joint public and private investment, they have helped the sector boost productivity by 49 per cent since 2012.
At Farnborough International Airshow in July this year, Prime Minister Theresa May launched the Government’s investigations into a new Aerospace Sector Deal, something warmly welcomed by ADS and that we have since been working with the Government and the Aerospace Growth Partnership to deliver.
The active support to industry through the Industrial Strategy Challenge Fund, productivity programmes and grand challenges is helping to secure global competitiveness and we look forward to updating the sector on next steps.
Industrial strategy is an important foundation of the future of the UK aerospace industry and a unique attraction to the UK for international business investment, ensuring the UK remains competitive and world-leading, something that should not be neglected in the headwinds of Brexit.
Looking forward, ADS hopes to see the industrial strategy continue to focus on helping industry invest in the future, and continue to improve on productivity and growth. With the UK nearing the end of the negotiations for leaving the EU, we must make sure that UK industry’s globally competitive sectors are best prepared for the challenges they will face in the years ahead.
ADS hopes that the industrial strategy will continue to be at the forefront of government policy as it provides industry with the additional support it needs to truly prosper.
