Department for Business and Trade written question – answered at on 25 May 2023.
Bill Esterson
Shadow Minister (Business and Industrial Strategy)
To ask the Secretary of State for Business and Trade, whether she plans to (a) re-establish and (b) give statutory status to the Industrial Strategy Council.
Nigel Huddleston
Minister of State (Department for Business and Trade)
In March 2021, the Government decided that the Industrial Strategy Council would no longer be needed to monitor the impact of the Industrial Strategy, following its transition to the then Plan for Growth.
Delivering economic growth in key sectors remains a priority. The Chancellor has identified five key growth sectors for the UK: Digital Technology, Green Industries, Life Sciences, Advanced Manufacturing and Creative Industries. The government has announced a £500 million per year package of support for 20,000 research and development (R&D) intensive businesses through changes to R&D tax credits, alongside 12 new investment zones. Earlier this month, the Department for Business and Trade announced regulatory measures that will reduce burdensome red tape and tailor rules to suit the UK economy, potentially saving employers around £1 billion yearly.
Yes1 person thinks so
No0 people think not
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Secretary of State was originally the title given to the two officials who conducted the Royal Correspondence under Elizabeth I. Now it is the title held by some of the more important Government Ministers, for example the Secretary of State for Foreign Affairs.
The Chancellor - also known as "Chancellor of the Exchequer" is responsible as a Minister for the treasury, and for the country's economy. For Example, the Chancellor set taxes and tax rates. The Chancellor is the only MP allowed to drink Alcohol in the House of Commons; s/he is permitted an alcoholic drink while delivering the budget.
