Commons Sense

House of Commons · Ministers' Questions

Industrial Strategy

Thursday 23 March 2023 · 4 questions

Summarised by AI from the official record, so it can contain mistakes.

Read the full transcript on Parliament.uk

At a glance

Answered 0 Partly answered 4 Not answered 0

Key points

  • Ministerial priority is on growing the economy and creating better-paid jobs.
  • The Government is working with industry across the UK to achieve economic growth.
  • The UK has provided over 800 million in support for energy costs for the steel industry.

Topics (select to filter)

Questions & Answers

Q1 Mick Whitley
Economy Business & Trade
Context

The MP inquired about the lack of a recent industrial strategy document and its potential impact on economic growth and job creation.

Question

If she will take steps to publish a new industrial strategy. The Prime Minister has made it clear that growing the economy and creating better-paid jobs is one of our top priorities, and I am concerned about the absence of a published industrial strategy since 2017.

Answer from Nusrat Ghani

The Prime Minister has made it clear that growing the economy and creating better-paid jobs is one of our top priorities, and the Government are working with industry across the UK to achieve that. We have set out clear plans for prioritising technology sectors, advanced manufacturing, financial services and creative industries, and this includes our investor road maps. In particular, the Chancellor has announced 12 investment zones across the UK, which could benefit from £80 million of interventions over the next five years.

Partly answered

Not addressed: Did not directly address publishing a new industrial strategy document but outlined existing initiatives.

How: Under Review, Working With Industry

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Q2 Mary Glindon Lab Newcastle upon Tyne East and Wallsend
Business & Trade
Context

The UK's level of business investment is now the lowest in the G7, and there has not been a published industrial strategy since 2017.

Question

The Government have not published an industrial strategy since 2017 and, as a result, the UK now has the lowest level of business investment in the G7. So what is the Minister's plan to encourage business investment in the UK? Do they intend to publish an industrial strategy?

Answer from Nusrat Ghani

I think the hon. Lady has misunderstood exactly what we are doing. We have industrial strategies, be it for the automotive sector, the aviation sector, the maritime sector, or science and tech—that one was published just yesterday. This is not just about publishing strategies; it is also about delivering, which is what we are cracking on with and doing. As for UK investment, we are the leading country for start-up capital outside the United States, and just a few weeks ago we attracted £20 billion into tech—this is twice as much as France and Germany.

Partly answered

Not addressed: Did not directly state plans to publish an industrial strategy but discussed various sector-specific strategies.

How: Under Review, We Are Delivering

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Q3 Mick Whitley
Economy Climate Brexit
Context

The EU and US are investing billions in accelerating their transition to net zero, but Britain lacks a robust green industrial strategy.

Question

While the EU and the US are investing billions in accelerating their transition to net zero, including through the Inflation Reduction Act, the lack of a robust green industrial strategy in Britain is leaving us stranded at the back of the pack. Does the Minister share my frustration that the Chancellor's Budget did so little to set out a convincing strategy for green growth? Do the Government intend to make the public wait for Labour to win the next general election before a world-leading green industrial strategy that drives private investment in green industries and establishes the UK as a clean energy superpower is brought before this House?

Answer from Nusrat Ghani

I am sorry to dampen the hon. Gentleman's ambitions about winning the next general election, but we do indeed have a strategy to deal with decarbonising our economy. We are supporting research and development to help decrease our reliance on gas and electricity and deal with long-term energy security: we have £380 million for the offshore wind sector, £385 million for nuclear R&D, and £120 million for future nuclear enabling. We have a green industrial strategy and we are keen to ensure that we deliver it right across the country, for all of our communities.

Partly answered

Not addressed: Did not directly address the timing or ambition level of the green industrial strategy but acknowledged its existence.

How: Working With Communities, Delivering

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Q4 Bill Esterson Lab Sefton Central
Climate Energy Business & Trade
Context

The UK is the only G20 country in which steel production is falling, and there are concerns about the future of this strategically important sector.

Question

People in Scunthorpe, Rotherham and Port Talbot know how important steel is for their communities. We Labour Members understand how important it is, for communities and for the green transition. The UK is the only G20 country in which steel production is falling, but when asked about the survival of this strategically important sector, the Business Secretary said: “Nothing is ever a given.” Is that because the British steel industry is not safe in her hands?

Answer from Nusrat Ghani

I do not know where the hon. Member got that quote from, but the British steel industry is very safe in our hands. Let me explain why. There has been over £800 million of support for energy costs, and over £1.5 billion to support competitive funds to ensure that the sector can decarbonise. We have done a huge amount of work with our steel sector. Colleagues from across the House will agree that in every meeting, whether it is with the unions or the sector, we are on the side of the steel sector and steelworkers, including when challenging commercial decisions are taken.

Partly answered

Not addressed: Did not directly address the Business Secretary's quote but provided financial support details for the steel industry.

How: Under Review, Working With Unions

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