Industrial Strategy… A Positive Step?
The Strategy identifies four "Grand Challenges", namely Artificial Intelligence, Clean Growth, Ageing Society and Future of Mobility. The Government is inviting the worlds of business, academia and civil society to help develop new technologies.
The Industrial Strategy Challenge Fund (ISFC) provides a further £725m over the next three years, to respond to global challenges and opportunities faced by the UK, including £170m to “transform” the construction sector and help create affordable and more sustainable places for people to live and work, taking forward construction methods that have changed little in the past 40 years.
The Strategy sets out “5 foundations of productivity” which includes a major upgrade of “infrastructure” and “places” to create prosperous communities across the UK.
With regards to Infrastructure, there is a need to increase the National Productivity Investment Fund to £31bn, supporting investments in transport, housing and digital infrastructure. This is an increase from £23bn and until 2022/23. This includes £4.9bn for transport, £11.6bn for housing and £740m for digital infrastructure, to support electric vehicles through £400m charging infrastructure investment and an extra £100m to extend the plug-in car grant, and to boost our digital infrastructure with over £1bn of public investment, including £176m for 5G and £200m for local areas to encourage roll out of full-fibre networks. HS2 is identified as a transformational project which will offer opportunities for local development across its routes alongside future Northern Powerhouse and Midlands rail services.
With regards to Places there is a need to agree long-term Local Industrial Strategies that build on local strengths and deliver on economic opportunities aligned to the national Industrial Strategy. There will be the creation of a new Transforming Cities fund that will provide £1.7bn for intercity transport. Investment in Yorkshire is highlighted with the University of Sheffield’s Advanced Manufacturing Research Centre (AMRC). A key part of the policies set out above is working together and is linked to devolution deals.
Spawforths welcome the publication of the Strategy, and for economic growth and development to come to the fore. This will become increasingly important as we move to a post-Brexit world. There is a need to link economic growth with the need for housing as highlighted by the current housing crisis.
Spawforths are working across the North of England to promote land and development opportunities through the planning system from inception to reality. We have a strong track record in identifying and creating the conditions from which development can come forward on brownfield, greenfield and Green Belt land. Speak to us about your development needs.
4 December 2017
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