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Modern Industrial Strategy: One Year On
08 July 2026
Type
Written Ministerial Statement
Department
Department for Business and Trade
At a Glance
Issue Summary
The statement is an update on the progress and impact of the UK's Modern Industrial Strategy after one year.
Action Requested
The government has taken action to address barriers to business growth, including major planning reforms, reduced energy costs for firms, improved access to finance, skills investments, and regulatory changes. The government also announces plans to introduce legislation for regulatory sandboxes in key sectors this year and continues support through the Industrial Strategy Advisory Council.
Key Facts
- Over £380 billion of private investment commitments secured.
- More than 155,000 jobs supported.
- Reduction of annual administrative burden by 25% by the end of Parliament (equivalent to £5.6 billion in savings).
- £2 billion in net annual savings already identified, with £1.5 billion delivered and a further £0.6 billion in progress.
- Legislation for regulatory sandboxes will be introduced later this year in sectors such as AI, life sciences, maritime autonomy, and last-mile delivery.
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