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The Supreme Court has overwhelmingly decided that parliament must vote before the process to leave the EU can be triggered.
The decision has done little to change the government’s robust stance on Brexit, however. Theresa May’s government is forging ahead with its vision of the British economy post-Brexit.
A new green paper called Building our industrial strategy outlines a ten point plan that the Prime Minister says will “shape a new future for the kind of country we will be when we have left”.
According to the green paper, Britain’s new industrial strategy will be based on ten pillars:
Of particular concern to the government is the productivity gap between the UK and competitor countries. Ultimately, these ten pillars aim to make Britain a more self-sufficient, productive economy, according to the plan.
The report focuses in on the lack of finance available to small business. Currently, the UK ranks third for startups, but 13th for the number of businesses that successfully scale up according to OECD research.
“We have invested an additional £400m in the British Business Bank to catalyse later stage venture capital investments by the private sector,” reads the green paper. “We have committed to provide £13m of funding for the Productivity Council, over three years.” The Council provides business-to-business advice on, as the name suggests, increasing productivity.
The government has also committed to a review into entrepreneurship will be led by the Chief Entrepreneurial Adviser at the Department for Business, Energy and Industrial Strategy. “The review will assess the support currently available to entrepreneurs and consider international best practice with the aim of identifying any potential gaps in current policy.”
Britain’s infrastructure, rated as second lowest among G7 countries, is another area of focus. In particular, digital infrastructure will get a cash boost. The government has earmarked £740m for local full fibre broadband rollout, 5G mobile technology and optical fibre.
Commenting on the strategy, Secretary of State for Business, Energy and Industrial Strategy Greg Clark said: “Leaving the European Union allows – and requires – us to make long-term decisions about our economic future.
“While the terms of trade with other economies is important, so is the competitiveness of our own economy. That is why the Government is committed to a modern industrial strategy. Its objective is to improve living standards and economic growth by increasing productivity and driving growth across the whole country.”
UKBFers can read the full report here.
Makes you question the whole concept of "democracy". Great post really enjoyed the read.