UK Government Launces 10-Year Modern Industrial Plan

Community and Business
UK Gov / British Embassy Tokyo

On Monday, June 23, the UK government unveiled its new Modern Industrial Strategy—a bold 10-year plan designed to drive business investment and accelerate the growth of the UK’s future-focused industries.

The strategy aims to streamline investment processes, making it quicker and easier for businesses to commit capital, while providing the long-term stability and certainty necessary for strategic decision-making.

 

Targeting High-Growth Sectors

The strategy identifies eight sectors with the greatest potential for growth and innovation:

  • Advanced Manufacturing
  • Clean Energy Industries
  • Creative Industries
  • Defence
  • Digital and Technologies
  • Financial Services
  • Life Sciences
  • Professional and Business Services

 

Action Plan at a Glance

The bold plan of action includes:

  • Cutting electricity costs by up to 25% from 2027 – for thousands of electricity-intensive British businesses in manufacturing sectors such as automotive.
  • Reducing grid connection times – for major investments through the launch of a new Connections Accelerator Service, new powers in the Planning and Infrastructure Bill currently before parliament, and Ofgem’s end-to-end review of the connections process.
  • Unlocking billions in finance for innovative business, especially for start-ups and scale-ups – increasing British Business Bank financial capacity to £25.6 billion, with an additional £4 billion for Industrial Strategy growth sectors.
  •  Enhancing investor support – providing our largest and most strategically aligned investors with access to more tailored support through the newly expanded Office for Investment.
  • Meeting the skills needs of businesses – an extra £1.2 billion each year for skills by 2028-29 and government-backed training packages for defence, digital and engineering, while attracting elite talent via visa reforms and the Global Talent Taskforce.
  • Simplifying regulation and reducing planning timelines – cutting the administrative costs of regulation for business by 25%, reducing the number of regulators, and streamlining planning requirements.
  • Boosting R&D spending – to £22.6 billion per year by 2029-30 to drive innovation across key sectors, with more than £2 billion for AI and £2.8 billion for Advanced Manufacturing over the next five years.
  • Deepening economic cooperation with our partners – building on our Industrial Strategy Partnership with Japan and recent trade deals with the US, India, and the EU.

 

Further Resources:

To find out more regarding the Modern Industrial Strategy:

Industrial Strategy - GOV.UK

Sector Plans - GOV.UK

Technology Adoption Review - GOV.UK

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