The Industrial Strategy - a Vision for Growth
18 October 2016
Balfour Beatty, the international infrastructure group, today publishes its paper 'The Industrial Strategy - a Vision for Growth'.
The paper is available to read here.
Drawing on Balfour Beatty’s significant experience and insight into the relationship between infrastructure investment and regeneration and economic growth, the paper welcomes the proposal to create a 'modern' industrial strategy. It concludes that, with industrial policy likely to be significantly impacted by the UK’s decision to leave the EU, the new strategy is not only welcome, but necessary. With ‘Brexit’ impacting a number of key areas such as State Aid, trade policy and the labour market among others, this is a defining moment and a strong industrial strategy could help the country respond effectively in a way that benefits the economy over the long term.
The paper considers how, designed correctly, a strong industrial strategy can contribute to increasing economic growth and resilience, alongside a more balanced society. It also looks at the importance of striking a balance between a healthy market economy and the right level of central intervention.
There are a number of recommendations on how the strategy could be designed to support successful industries, help the country build on its key national strengths, promote emerging sectors and address challenges such as the need to broaden our skills base.
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Notes to editors:
Balfour Beatty (www.balfourbeatty.com) is a leading international infrastructure group. With 34,000 employees, we provide innovative and efficient infrastructure that underpins our daily lives, supports communities and enables economic growth. We finance, develop, build and maintain complex infrastructure such as transportation, power and utility systems, social and commercial buildings.
Our main geographies are the UK, US, Middle East and South East Asia. Over the last 100 years we have created iconic buildings and infrastructure all over the world including the London Olympics’ Aquatic Centre, Hong Kong’s first Zero Carbon building, the world’s biggest shopping mall in Dubai, the National Museum of the Marine Corps in the US and the Channel Tunnel Rail Link.