The rhetoric is fine but why is this industrial strategy so underwhelming?


"The white paper acts as a good foundation for a new partnership with industry where Government and business can ensure consistency in policy thinking and implementation to ensure the United Kingdom is world leader in these new technologies".

Last week, sister site World IP Review reported that the United Kingdom government will make an extra investment of £2.3 billion in research and development (R&D) in 2021/22, increasing total public investment in R&D to £12.5 billion that year.

MSD, known as Merck and Co in the USA and Canada, announced plans to launch a life sciences discovery research facility just hours ahead of the United Kingdom government's release of its industrial strategy.

Business Secretary Greg Clark said that as people lead "longer, healthier lives" companies had to hire and tailor their "workplaces" to requirements of older workers.

The Government has released its Industrial Strategy with a focus on four "growth industries", set for billions of pounds in extra investment.

The focus on Place as another of the five foundations is also an element CIWM called for in its response to the Green Paper.

Each foundation is supported by a range of policies created to provide businesses with certainty and reassurance that the United Kingdom will continue to have a competitive edge, such as raising total R&D investment to 2.4 percent of GDP by 2027; increasing the rate of R&D tax credit to 12 percent; and investing £725 million in new Industrial Strategy Challenge Fund programmes, "to capture the value of innovation".

"MSD's commitment today, and the wider Sector Deal investment we have secured, proves the process outlined in the Industrial Strategy can give companies the confidence and direction they need to invest in the UK".

United Kingdom business secretary Greg Clark said other investments will follow in the £64bn life-sciences industry, one of four to strike a "sector deal" between different industries and ministers as part of the new strategy.

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"Reforming the Apprenticeship Levy, and addressing challenges in schools are vital parts of a long term Industrial Strategy".

"There must be no missed turns on the path to United Kingdom 2030", she said.

Nuclear and offshore wind will still be in the centre of the country's low-carbon energy policy, as the government pledges to pursue further opportunities for clean heating and potential uses of hydrogen.

The investment announced by MSD today will support a new world-leading life sciences discovery research facility in the United Kingdom, supporting 950 jobs.

The US drugmaker intends to create 150 new research roles in London and move around 800 existing United Kingdom jobs to the capital.

"Investments by world-renowned companies like MSD and QIAGEN demonstrate that the UK's science base is truly world-leading and an exceptional national strength".

In addition, Qiagen is announcing details of a brand new partnership with Health Innovation Manchester that has the intention to develop a genomics and diagnostics campus in Manchester. This could mean around £80 billion of additional investment in advanced technology in the next decade, helping to transform whole sectors, create new industries, and support innovation across the country.

Theresa May, UK Prime Minister said the Industrial Strategy "will help propel Britain to global leadership of the industries of the future - from artificial intelligence and big data to clean energy and self-driving vehicles" "As we leave the European Union and forge a new path for ourselves, we need to focus on building a better future for our country and all the people who live in it". These are: artificial intelligence, clean growth, an aging society and the future of mobility.

In addition to stating that these challenges will shape our ever changing future, the Government also believe that they represent a chance for United Kingdom business, academia and civil society to work collaboratively and take advantage of these opportunities through harnessing technology.