King's Speech: Industrial strategy tops growth agenda

18 July 2024 | Muriel Cozier

The new government has set out its legislative agenda in the King’s Speech, with industrial strategy high on the list of priorities, along with clean energy and tackling climate change.

Early in the speech, which sets out the plans of the government for the next year, was a mention for the government’s plans to establish an Industrial Strategy Council.

This is a move that SCI has been calling for in its Manifesto for an Industrial Science and Innovation Strategy which was launched last year.

The speech also referenced the “the urgency of the global climate challenge and the new job opportunities that can come from leading the development of the technologies of the future”, and said the government is committed to a clean energy transition. Part of this commitment will be met through Great British Energy, a publicly owned clean power company headquartered in Scotland, which will help accelerate investment in renewable energy.

A new Planning and Infrastructure Bill aims to make it easier to accelerate the delivery of new high-quality infrastructure.

SCI CEO Sharon Todd said: ‘The reference to the Industrial Strategy Council in the first minute and a half of the King’s Speech is very welcome and demonstrates how integral this body will be to the government’s economic plants. Science and scientific business will underpin significant parts of the new industrial growth plan.’

A bill will also be introduced to support the production of sustainable aviation fuel. This is a positive development, Todd said, as it will help spur the scientific industries of tomorrow.

"A partnership between politics and business is essential to drive investment, growth and positive social change across the UK. Unlocking funding and providing infrastructure and skills are essential to ensure that businesses have the expertise they need to capitalise on our world leading innovations. SCI looks forward to supporting this government to put science at the heart of its new industrial strategy,’" Todd added.

Make UK, described the King’s speech as a "bold" statement of intent. "The priority has to be boosting the UK’s anaemic growth. Central to this will be an industrial strategy which addresses the skills crisis and takes advantage of rapidly accelerating technologies. Industry will welcome the government’s recognition of these issues as key and looks forward to seeing more detail in the upcoming fiscal statement," the trade organisation said.

Partnership with business was welcomed by the CBI which commented: "The key to turning the government’s legislative agenda into a road-map for sustainable growth will be a partnership of collaboration with industry."

The King’s Speech – written by the government but delivered by the monarch – unveiled more than three dozen bills and draft bills which will form the bulk of the government’s legislative agenda.

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