Yorkshire and The Humber are set to benefit from a £156.9m funding boost as part of modern industrial strategy proposals.
The Government is to publish its vision for a Modern Industrial Strategy today, inviting contributions from businesses, local groups and workers in Yorkshire and the Humber.
Minister for the Northern Powerhouse Andrew Percy to visit Leeds Flood Alleviation Scheme today to explain how the strategy will benefit region.
Industrial Strategy Green Paper will outline 10 key pillars for Industrial Strategy, including driving growth across the country, boosting infrastructure and skills.
The funding hopes to create jobs, support businesses and encourage growth across the area.
In its Green Paper, Building our Industrial Strategy, the Government defines three fundamental challenges Britain must face up to now, and in the future:
- Build on the UKs strengths and extend excellence into the future;
- Close the gap between Britains most productive companies, industries, places and people and the rest;
- Make Britain one of the most competitive places in the world to start or grow a business.
Todays Green Paper launch follows the announcement of significant initial actions for the Industrial Strategy, including the £4.7 billion increase in research and development funding, unveiled by the Chancellor Philip Hammond at last years Autumn Statement.
This is an important step in building a modern, dynamic Industrial Strategy that will improve living standards and drive economic growth across the whole country. A modern British Industrial Strategy must build on the UK's strengths and extend excellence into the future; close the gap between the UK's most productive companies, industries, places and people and the rest; and ensure we are one of the most competitive places in the world to start and grow a business.
Yorkshire and the Humber has a world-leading reputation in industries such as offshore wind and specialist engineering. Through our Industrial Strategy and our substantial investment in the Northern Powerhouse we are going to build on these local strengths and create new opportunities and jobs in other industries and sectors.
We are inviting businesses and workers to contribute to this vision to help us create a high-skilled economy where every place can meet its potential.
BUSINESS AND ENERGY SECRETARY GREG CLARK
The launch of the Industrial Strategy Green Paper marks the start of an important journey for British industry. We need a robust Industrial Strategy to prepare our economy for the challenges and opportunities of the digital revolution in manufacturing and other sectors.
CHIEF EXECUTIVE OF SIEMENS UK JÜRGEN MAIER