The long-awaited strategy will include a £275million boost to skills training for the one in seven young people out of work and education – backing British talent instead of importing workers from overseas
Labour’s long-awaited industrial strategy will prove the Government is “on the side of working people” across the whole country the Industry minister vows ahead of its publication on Monday.
The strategy is intended to boost key sectors of the economy for the next decade, with advanced manufacturing, clean energy and defence among the sectors to see increased focus.
Today, Business Secretary Jonathan Reynolds vowed to “power the industrial strategy by investing in working people”
He promised a £275million boost to skills training for the one in seven young people out of work and education – backing British talent instead of importing workers from overseas.
And writing for the Sunday Mirror Sarah Jones, the Industry Minister said the strategy would not just focus on London and the south east.
“From Belfast to Barrow, Derby to Dundee, our modern Industrial Strategy will build on the world-leading strengths of our nations and regions to turbocharge investment into our communities, raising wages and living standards for working people,” she wrote.
“We’re not just putting a sticking plaster over the cracks of the economy. We’re setting out a plan to fix the problems that have plagued us for years.”
The training cash will fund the creation of new ‘Technical Excellence Colleges’ to provide cutting-edge courses in defence and engineering.
It’s been targeted to address the UK’s skills gaps which leave businesses struggling to find people with the talents and skills they need.
“To make Britain the best place in the world to do business, we also need the best workforce in the world with the right skills and expertise to thrive,” Mr Reynolds said.
“Where past governments have watched from the sidelines as British industry has faced under-investment and opportunities have been shipped overseas, this government is leading the way, and our modern Industrial Strategy is a downpayment on a decade of renewal.”
The UK’s last industrial strategy was in 2017, when the Tories published a four-year plan ending in 2021.
We’re giving young people a chance to succeed
By SARAH JONES, Minister for Industry
This government is on the side of working people. And our modern Industrial Strategy, which we will publish tomorrow, will prove that beyond doubt.
For the past 14 years, governments have sat on the sidelines watching British industry struggle – no direction, no support and no strategy.
Neglecting our world-class industrial sectors and leaving workers in the lurch, while only worsening the gap between rich and poor and extending the north-south divide.
Even before we entered Government we have been listening to industry and knew bold action was needed. Working hand in hand with industry and the workforce we will take the action needed to keep jobs and investment on our shores for decades to come.
And the UK means the whole of our country: not just London or the Southeast.
From Belfast to Barrow, Derby to Dundee, our modern Industrial Strategy will build on the world-leading strengths of our nations and regions to turbocharge investment into our communities, raising wages and living standards for working people.
We’re not just putting a sticking plaster over the cracks of the economy. We’re setting out a plan to fix the problems that have plagued us for years.
Currently one in seven young people are unemployed or out of education. We’re giving them the chance to succeed by creating thousands of new training opportunities and transforming Britain’s skills system, with more than £275 million in new investment to help British workers secure good, well-paid jobs in the industries of tomorrow.
This will fund new training, short courses and other education opportunities right across the country in sectors like defence, AI, clean energies and advanced manufacturing.
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These are sectors where the UK is already world-leading, and which are expected to add £158 billion to our economy by 2035 and create an astounding 1.1 million new, well-paid jobs.
Our skills overhaul will also set up new Technical Excellence Colleges across the UK to help train thousands of new skilled workers by 2029, in careers like engineering, programming and IT systems, helping Britain to stay competitive on the global stage.
But that’s just the tip of the iceberg. Tomorrow, our new Strategy will set out how we’ll invest billions in our high-growth sectors in every part of the country: creating thousands of secure, well-paid and high-skilled jobs, backed by employment rights fit for a modern economy.
The number one mission of this government’s Plan for Change is growth, and putting more money in working people’s pockets. And that’s exactly what our modern Industrial Strategy will do.