The industrial strategy will provide certainty of business

Digest opened free editor

Rola Khaleda, FT editor, chooses her favorite stories in this weekly newsletter.

The writer is the Prime Minister of the United Kingdom

The world entered a new economic era. In many ways, it is more dangerous, with increasing threats to our security. It is also a tremendous world. Technological progress in life sciences, clean energy, artificial intelligence, and more, deeply reshape our economy.

It is a golden opportunity. We can harness these great forces and use them to make our economy more fair and stronger. The race cannot be denied, but Britain is in a good position to win. The funding industry, universities and scientific institutions are all of the world. Our legal system defines global standards. We have a heritage that is steeped in trade and institution. With the presence of a trilogy of recent trade deals-with India, the United States and the European Union-we have regained our identity as a global free trade champion. A reference to the challenge, that even when the world becomes more volatile, Britain is shameless to work. Those years of chaos are now firmly in the past.

However, there is hunting. For decades, successive governments have moved away from the appropriate industrial strategy. We had a case, paradoxes, that both of them stand and overlap a lot. When the industries found themselves at the mercy of change, they are often left for their motivation for themselves, with the government that is not interested in providing a bridge for the future. Equally, when new opportunities offer itself, Britain found itself either very organized to benefit, or very careful to change the path. The result is an arrogant and weak condition, and serves a bad economy that has become dependent on a small number of places, very vulnerable to global fluctuations, and very slow to take advantage of opportunities.

In the era of technological transformation, this cannot stand. Tired discussions about the large or small government belonging to the past. The only discussion now is whether you are graceful enough to seize future opportunities or leave them quickly. This is the purpose of leading my plan for change. That is why I am proud to launch a A new industrial strategy For the nation today. Strong, strategic and unusual in the long run, and meets the challenges of our time. A 10 -year plan to make the United Kingdom the best country to invest anywhere in the world. But also, a new relationship between the actions and the government determined by the partnership.

The deal is simple. The government provides strategic certainty. This means that companies are free to do what they do better and create wealth.

Of course, some will continue to say that this means that the government is more interfering in the economy. I do not deny that. I think our role in supporting British companies, investing in our relative advantage and making bets in seeking to achieve growth and productivity. But this strategy was written with the companies themselves. This means that he realizes the importance of fitness and constantly asks whether the regulations prevent the circumstances in which Britain flourishes.

The result is the decisive support for eight highly developed sectors-life sciences, advanced manufacturing, digital technology, defense, clean energy, financing, professional and commercial services and creative industries. Each has a clear way for a comparative feature. Each will create job opportunities and wealth. Each of them will be supported by billions of investment pounds: 86 billion pounds in research and development, which increases our ability to innovate. More capital for the British Business Bank. A new generation of technical colleges. And work on industrial electricity prices to address a large barrier in front of our competitiveness.

Do not make mistakes, this will make a difference for thousands of companies. But most of all, is part of our plan for British growth. Since we had to reform institutions in our first year, we have requested a lot of business. But we also made decisions that now give us a huge platform to build Britain more prosperous. We have supported British exporters, by opening new markets with those three commercial deals.

We take a radical look at the planning system. We have developed a world leading strategy to harness the potential of artificial intelligence, and we will open the wealth of pension to increase investment and cut the forest of government organization that hinders construction and growth. As the spending review showed, we invest in skills, transportation and infrastructure throughout the country.

The industrial strategy today depends on all this. It represents a new stage for the government – and it is a shift away from reforming the inherited problems to provide the change and renewal that people can feel. It will create wealth, functions and growth that we need in every society. A plan that supports creators wealth in Britain. In partnership with them, we will return the future of Britain.