The North East LEP welcomes the Industrial Strategy White Paper
We welcome the publication of the Industrial strategy white paper which has the potential to make a significant impact on the long term health of the UK economy
The White Paper has a particular focus on the role of places in rebalancing the UK economy. The North East has a strong role to play in delivering the strategy through its industrial and innovation strengths in advanced manufacturing, life sciences innovation, energy and the digital economy. Our science strengths in areas like ageing and smart data can contribute to addressing the grand challenges identified in the report. The focus on skills will provide new opportunities to improve economic opportunities for local people.
We look forward to understanding opportunities for new investment, for example through the Innovation Place Fund and we look forward to future discussions about the proposed UK Shared Prosperity Fund as a source of funding as we leave the European Union. It is clear from the proposals that the decision to create a North of Tyne Mayoral Combined Authority should offer new opportunities for the region.
We are pleased that the Government has announced continued funding for the Growth Hub network and that there are opportunities for continuing development of its role which should be progressed. This is central to the approach of the North East Strategic Economic Plan, aiming to ensure that support is available and accessible to support business growth.
Read the White Paper here.