Columnist

Industrial strategy 'can drive business forward'

The North East Automotive Alliance welcomes the announcement of the long-awaited UK industrial strategy.

It is pleasing to see advanced manufacturing and clean energy as two of the eight key growth-driving sectors within the strategy.

This focus aligns directly with the automotive industry's current trajectory, particularly with the global shift towards electrification.

The new British Industrial Competitiveness Scheme is a positive step forward for our energy-intensive sector.

Helping companies reduce their energy costs by up to 25 per cent will ensure we are better positioned to compete globally with other countries that have access to cheaper energy.

The North East Automotive Alliance acknowledges the long-standing need for skills development and talent attraction within the automotive sector.

The commitment of an extra £1.2 billion per year for skills will help upskill the existing workforce and attract new, skilled individuals into the industry, addressing a critical pipeline need.

The strategy's pledge to unlock billions in finance for innovative businesses, by increasing access to finance, is good news for the automotive sector.

This will be crucial for supporting ongoing technology advancements and research and development programmes to ensure we continue to deliver innovation, automation and digitisation across the automotive industry.

The North East Automotive Alliance views the industrial strategy as a positive development that will contribute to creating a more attractive, stable and supportive environment for businesses in the UK, and we look forward to actively supporting its implementation.

Paul Butler is chief executive of the North East Automotive Alliance

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