Opinion Funding supports city’s innovation and ingenuity to help build the economy of the future
Business secretary Greg Clark on how the government’s Industrial Strategy is ‘improving’ lives and business in Bristol
IN 1809, the people of Bristol looked across the Avon to the new floating harbour that was to transform the city and help cement Britain as one of the world’s great trading nations.
It overcame a seemingly insurmountable natural challenge: one of the highest tidal drops in the world. Through great industrial ingenuity and engineering strength, the floating harbour stopped cargo ships getting stranded at low tide, and opened up further trade.
From its earliest days, Bristol has been associated with trade and innovation in the minds of people in Britain and around the world.
That is a reputation that endures and one we want to continue to build on. The local drive to invent, to innovate and to trade has created a strong hub in advanced manufacturing. Just last week, leading aerospace manufacturer GKN announced its new Global Technology Centre (see page 2) backed by £15million in government investment through our Industrial Strategy – cementing the region’s status as a world-class hub for aerospace well into the future.
It is fundamental that, as we leave the European Union, we continue to be outward looking, preserving and building on our ability to be world leaders, poised to not only tackle great natural and social challenges, but to take advantage of new technologies and industries.
We are at the threshold of one of the most exciting times in modern history as new technologies and innovations present huge opportunities for the region and its 54,000
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We have committed billions of pounds of investment and this money is creating new jobs and funding ideas all around the country.
businesses.
In an ever-changing world, we need a long-term plan to enable us to seize the opportunities in the sectors, industries and products of the future and further our national prosperity.
That plan is our modern Industrial Strategy, which aims to boost productivity by backing businesses to create high quality, well-paid jobs around the country with investment in the skills, industry and infrastructure.
I’m proud that our modern Industrial Strategy is backing businesses in and around Bristol, from direct funding for the groundbreaking robots that help to repair bone fractures being built by the Bristol Robotics Lab to investing in the homes, transport and digital infrastructure that modern industries need to thrive.
It is fitting that last week, at a national Industrial Strategy event that took place at the We The Curi- ous museum in Bristol, we announced our Future Flight programme to develop electric planes, drones and autonomous aircraft by 2025 building on the unique strength the West of England has in aerospace well into the future.
We have committed billions of pounds of investment and, a year after its launch, this money is creating new jobs and funding ideas all around the country.
At the leading Advanced Automotive Propulsion Centre on the Bristol and Bath Science Park, we are providing nearly £40million to discover new, cleaner ways to power cars.
The business environment and infrastructure are key in building the economy of the future.
We’re investing in better connectivity for the area, including through the UK’s first public trial to support new 5G technologies. And we’re speeding up house building in the area with £12.5million for vital infrastructure to support new homes and communities.
These are just a few examples of where the Industrial Strategy is already working to improve lives and build a Britain fit for the future.
Our Strategy builds on our proud heritage as a nation of makers, innovators and inventors and will benefit our economy and the west of England.
First, we are encouraging innovation, developing high-quality jobs and fostering growth all over the UK, with the largest ever research and deployment budget.
Second, we have been building long-term partnerships between government and industry through sector deals to commercialise the technologies of the future.
That includes launching a new Aerospace Sector Deal, with up to £125million of new funding, matched by industry, to transform the way we travel, with cleaner, greener, quieter more innovative aircraft to transport people and goods.
Finally, our focus is on four future-defining areas where Britain can lead the world in the coming technological revolution: expanding artificial intelligence and data; the future of transportation and mobility; meeting the needs of an ageing society; and the global shift to clean growth.
These are four areas where the UK has unique strengths and are global trends which will be in huge demand in the future.
Our modern Industrial Strategy, building on a strong deal as we exit the EU, will ensure that we can together forge a prosperous future, and lead the world in the sectors, industries and products of tomorrow.