Why the Prime Minister's new industry strategy is right for Norfolk businesses
17th May 2012
The turmoil in the Eurozone is set to exacerbate the UK’s debt crisis and compound the problems of slow economic growth, unemployment and rising costs. Yet some sectors of our economy, like Norfolk’s innovation cluster at the NRP and Hethel Engineering Centre, are bucking the trend and proving that there are growing opportunities for British industry in the global market place.
Over the past six months I have been speaking to business leaders from over 100 successful British businesses in the fastest growing innovation sectors to find out what's driving their growth and success, and to ask them what they want to see Government to do for them. With PA Consulting I have published a Report which sets out a clear vision: today's technology and innovation companies want Government to help implement a modern, business-led industry strategy that backs technologies and specific sectors with the greatest potential to unlock sustainable UK growth. They want a partnership approach where the Government supports their development by removing barriers and creating incentives to start a new wave of innovation and entrepreneurship.
The Prime Minister's speech on the economy today shows the Government is listening to our business leaders and bringing forward a new industry policy that promotes key sectors where we have a comparative global advantage. The Prime Minister said: “We need to get behind the industries of the future so we’re backing the skilled, high-value industries like green technology, aerospace and life sciences in which Britain has a real comparative advantage.”
I was delighted to give an interview to the BBC about why the Prime Minister’s strategy is right and to point out why the Norfolk and Eastern Region economy is showing the way. We have a thriving life science and hi-tech innovation economy which is exporting British expertise and products to international markets. With investment in our region’s infrastructure – rail, roads and broadband – our businesses can reach new markets to grow our way out of the debt crisis, help to rebalance the British economy and make it sustainable in the long-term.
My BBC interview: