The Government’s industrial strategy is simply not ambitious enough – Rebecca Long Bailey

Rebecca
Long Bailey MP, Labour’s Shadow Secretary of State for Business, Energy and
Industrial Strategy, commenting
on today’s findings that the Government’s industrial strategy targets only 10
percent of manufacturing and 1 per cent of the whole economy and widens
regional divides, said,

‘’The
Government’s industrial strategy is simply not ambitious enough, focussing on
an extremely narrow section of the UK, both economically and geographically,
and contains no commitment to the levels of investment necessary to transform
the economy.

“Labour’s
industrial strategy has real teeth, backed up by our £250 billion National
Transformation Fund, the National Investment Bank and a network of Regional
Development Banks. It will be wide-reaching, centred around three pillars:
national missions to address the societal issues of our time, cross-cutting
policies to create a fertile ground for business activity and collaboration at
a sector level for both established and potential industries.

“Only
Labour has a modern, ambitious and achievable industrial strategy to rebuild
and transform the economy in every region of the UK for the many not the few.’’