Ahead of the International Investment Summit in London, the Government has launched a consultation for Invest 2035: The UK’s Modern Industrial Strategy, alongside a new Advisory Council.
Richard Beresford, Chief Executive of the National Federation of Builders (NFB), said:
“Invest 2035 offers a fresh approach compared to previous industrial strategies, acknowledging that the delay-ridden, uncertain planning process makes the UK a less favourable place for business investment and growth. The consultation provides businesses with a platform to further build the planning evidence that past governments have ignored because they feared the vocal minority’s opposition to land use.”
Invest 2035 aims to build on the UK’s strengths while addressing what hinders even greater success. As part of its vision for a pro-business environment, it prioritises eight growth-driving sectors. The consultation seeks to understand the factors that drive investment, barriers to innovation and growth, how to embed net-zero goals, and whether enough is understood about clustered industries and regional strategies.
Clare Barclay, CEO of Microsoft UK, will chair the new Industrial Strategy Advisory Council, which will offer expert advice developed in collaboration with businesses, unions, and stakeholders from across the UK.
Reflecting on the NFB’s experience in discussions with the Government, Beresford added:
“The NFB often cites the planning process’s negative impact on skills, investment, meeting climate targets, innovation, and social mobility. However, it has been a hard slog to have that taken seriously and, more importantly, actioned.
As an example, the biggest contractors win many procurement contracts, yet do not typically directly employ or use consistent supply chains. In housing, SMEs only build 9% of homes. Is it any wonder that, with eight in ten construction apprentices being trained by SMEs, we have a construction skills crisis?
One concern from our initial review of the consultation is that construction does not feature as a prioritised growth-driving sector. This seems an oversight because construction builds the premises that investors need, delivers the roads, rail, energy, and communications that fuel regional and national connectivity, and is integral to every net-zero challenge.”