The UK government has launched a new Industrial Strategy Advisory Council which brings together business leaders from across the UK to offer advice.
The government says the Industrial Strategy will help maintain a pro-business environment to capture a greater share of internationally mobile investment and motivate domestic business to boost their investment and scale up their growth.
It will channel support to sectors and geographical clusters that have the highest growth potential for the next decade, the government adds.
Anna Leach, Chief Economist at the Institute of Directors said:
'We welcome the launch of the Industrial Strategy Advisory Council which will offer independent advice and recommendations to government as it develops the Industrial Strategy.
'It's incredibly important to see the role of businesses in designing and delivering the government's growth mission given prominence. An industrial strategy which embeds stability and long-termism alongside astutely targeted investments can play an effective role in driving this mission.
'It is also good to see that the council will have a role in holding the government to account in the effective delivery of industrial strategy through data, analysis and reporting. We look forward to engaging with the new council in creating the conditions for businesses to thrive in the UK.'
Internet link: GOV.UK IoD