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Industrial Strategy

Part of Laser Misuse (Vehicles) Bill [Lords] (Programme) – in the House of Commons at 3:40 pm on 18th April 2018.

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Photo of Greg Clark Greg Clark The Secretary of State for Business, Energy and Industrial Strategy 3:40 pm, 18th April 2018

The hon. Gentleman is absolutely right about the importance of long-term relationships. I have said that I cannot make an appraisal of that particular bid, since I have a decision to make, but it is on the record that I requested and obtained commitments from the bidder to investment in research and development, and indeed to the continued ownership of that aerospace business. I hope he will therefore recognise that I regard commitments to the long term as important.

I have mentioned the life sciences sector deal. We launched the automotive sector deal in January, and I launched the creative industries sector deal with my right hon. Friend the Secretary of State for Digital, Culture, Media and Sport just last month. We have in the pipeline a number of other sectors where great progress has been made, and we expect to make more announcements soon.

I hope it is evident that in the industrial strategy—whether looking to the future, harnessing our resources to make sure that we capitalise on our existing strengths, or looking objectively and candidly at areas in which we need to do better and in which we need to invest for the foundations of future productivity—the approach we have taken is to set out a strategy for the long term to which all parts of the United Kingdom can contribute.

We are not the only country in the world to recognise that a technological revolution is taking place. Wherever I travel I find similar concerns, and similar appraisals of the future are being undertaken by other countries. Our industrial strategy has already, in the few months since it was published, attracted widespread attention and respect around the world. We have already translated it into several languages because of demand, so any colleagues travelling around the world who want copies of it can approach my office for a translation in most languages, and we will have other translations made according to demand.

Our industrial strategy is a calling card for the future of the United Kingdom economy, and I hope Members on both sides of the House recognise that in pulling together our strengths and opportunities through it, we have a chance to tell the world, as well as our fellow countrymen and women, that this country has a great future ahead of it, just as we have had a very successful past. I commend the motion to the House.