In January 2017 the Government released the Modern Industrial Strategy green paper that outlined the long-term challenges facing the UK economy, with the aim of improving living standards and economic growth by increasing productivity and driving growth across the whole country.
Carillion responded to the green paper in April 2017.
In our response, we made a number of recommendations, which included;
- a Government commitment to place the UK’s infrastructure at the heart of the Industrial Strategy;
- Government to provide a new PF2 pipeline of infrastructure projects;
- the need for a continuous and certain pipeline of infrastructure projects coming to market, so that business can invest in skills and innovation;
- continued support for devolution and initiatives such as the Northern Powerhouse, thus enabling our great regions to unlock their potential and contribute more to the overall UK economy;
- a strategic approach in addressing skills shortages facing many of our industries; and
- a greater focus on collaboration between client and contractor, so that each is able to better understand the other parties needs and deliver better outcomes on value, efficiencies and innovation.
However, the success or failure of any Industrial Strategy we feel lies in the commitment of the current Government in addressing the previous under investment in the UKs economic infrastructure by successive Governments of all political persuasion.
With this in mind, Carillion believes the Modern Industrial Strategy should be one based on investment in infrastructure, which provides a short-term economic stimulus, with long-term economic benefits.