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Roela Khalaf, Ft Editor, selects his favorite stories in this weekly newsletter.
The writer is the Prime Minister of the principal
The world has entered a new economic period. In many ways it is more dangerous, with growing threats to our security. But this is also a world more likely. Progress of life technology, clean strength, artificial intelligence and more, our economy is well.
It’s a golden opportunity. We can use these major forces and use them to make our economy to our fair and stronger and stronger. Does not block the race, but Britain is well setting up to win. Our financial, university and scientific institutions are all in the world – leading the world. Our legal system has set the world’s standards. We have a legacy attached to commercial and business. And with our new hat-tricks in trade deals – with India, US and EU – we have restored our identity as the global champion for free trades. A sign of opposition, which even the world has become easier, Britain cannot open for business. And those years of turmoil are now strong before.
However there is a catch. For decades, consecutive governments are far from an accurate industry strategy. We have a state that, paradoxically, both stands and stands very well. If industries find themselves in the mercy of the change, they often leave to be made for themselves, with no government to give a bridge in the future. However similar, when new opportunities showing themselves, Britain is often found to be regulated to take advantage of exploits, or carefulness of course. The result is a state of both excessive and weak, poorly served in an economy that is more reliable in a small number of areas, and also released in global depression, and more lazy to take advantage of opportunities.
At a time of technology change, it cannot stand. Tired debates about large or small government belong to the past. The only debate now if we have enough seizure in the coming moments or rapidly left. That’s the purpose of driving my plan for change. And so cause I am proud to launch a new industry strategies for the country today. Strongly, strategically and soon long, the challenges of our time are provided. A 10-year plan to make the best country to invest anywhere in the world. But also, a new relationship between business and government meaning through interaction.
The deal is simple. The government gives strategic security. And that means businesses are free to do the best they do and make wealth.
Of course, some say it means that the government interfere more than economics. I don’t deny that. I think this is our role in British businesses, investing in our storage and making stakes in trying to grow and productivity. But this strategy is written by businesses themselves. This means understanding the importance of easiness in speed and continuously asks if regulations hold the conditions for Britain to improve.
The result is decisive backing for eight high-growl sectors – Life sciences, advanced manufacturing, digital technology, financial services, professional services and business services. Each has a clear path to comparative advantage. Everyone makes jobs and wealth. And each one is to put in billion pounds of investment amount: £ 86bn of research and development, scaling our innovation. More capital for British bank bank. A new generation of technical colleges. And action at the industrial electricity prices to solve a large barrier in our competition.
Don’t go wrong, it will make a difference in thousands of businesses. But the most important of all, it is part of our plan for growing Britain. As we need to fix the foundations of our first year, we ask a lot of business. But we also got decisions that also gave us a large platform to build more prosperous Britain. We support British exporters, by opening new markets in three trades deals.
We are in radical deregulate in the planning system. We make a strategy leading the world to use the potential of artificial intelligence, we will overthrow the treasure of pensions to develop investment in investments that prevent construction and growth. And, as demonstrated to expire expenses, we invest in skills, transportation and infrastructure across the country.
Industry strategy now builds all of this. It represents a new episode for the government – a transition from repairing inherent delivery problems and change people to feel. It will make wealth, work and growth we need in every community. A plan that restores British treasury merchants. And with them, we’ll get the future return to Britain.
