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May: Next decade heralds new chapter for UK economy

Theresa May will today urge businesses to look to the next decade with rational optimism as part of a new chapter for Britains economy.
In the run-up to the publication of the industrial strategy white paper this month, the Prime Minister will pledge to create a stronger, fairer, better balanced economy... which builds on its strengths and can compete in the world.
The industrial strategy will foster an environment in which companies can thrive, she will tell the annual conference of the Confederation of British Industry.
May: Next decade heralds new chapter for UK economy

Britain's workers need a whole new set of skills for the future, if they are to boost the economy and avoid long-term unemployment

Credit:
GIUSEPPE CACACE/AFP
However, Mrs May will warn that government cannot make a plan for every corner of our economy, while reaffirming the Conservatives belief in free markets. The Government will not attempt to shield the economy from market forces and will make strategic decisions about where and where not to intervene.
In a swipe at previous Labour governments, she will add: Such an approach avoids the failed state interventionism of the 1970s.
The Prime Minister is also due to say that by creating the right conditions, and investing in skills and and infrastructure, the country should look ahead as rational optimists: there are huge opportunities ahead.
May: Next decade heralds new chapter for UK economy

CBI boss Carolyn Fairbairn wants education to be overhauled in the UK to prepare workers for the modern age

Credit:
Paul Hackett/Reuters
She will also give an update on Brexit negotiations and attempt to reassure businesses that the Government has taken on board the importance of securing a transitional deal and avoiding a cliff edge.
A CBI study found 90pc of companies believe living standards will be driven up by the industrial strategy. Carolyn Fairbairn, CBI director-general, said: There has never been a more important time to unite behind the industrial strategy.
The country has a fantastic opportunity to leapfrog our competitors with a total rethink of education and skills to prepare Britains workforce for high-tech employment in a world of artificial intelligence and automation, she added.
May: Next decade heralds new chapter for UK economy

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