{"id":2134760,"date":"2024-06-13T14:50:15","date_gmt":"2024-06-13T13:50:15","guid":{"rendered":"https:\/\/www.thebusinessdesk.com\/northwest\/?p=2134760"},"modified":"2024-06-13T15:45:07","modified_gmt":"2024-06-13T14:45:07","slug":"labour-will-run-dynamic-and-strategic-state-with-an-industrial-strategy","status":"publish","type":"post","link":"https:\/\/www.thebusinessdesk.com\/northwest\/news\/2134760-labour-will-run-dynamic-and-strategic-state-with-an-industrial-strategy","title":{"rendered":"Labour will run ‘dynamic and strategic state’ with an industrial strategy\u00a0"},"content":{"rendered":"

Labour\u2019s General Election manifesto launch at the Co-operative Building in central Manchester today (13 June 2024) placed economic growth and an industrial strategy at the centre of its \u201cchange\u201d message for a new government.<\/span><\/p>\n

With just 21 days to go until polling day, Keir Starmer championed a far more interventionist approach than the Conservatives under Rishi Sunak who appear to have ditched \u2018industrial strategy\u2019 as a policy, the manifesto also claimed Labour\u2019s approach will depend on \u201ca dynamic and strategic state.\u201d\u00a0<\/span><\/p>\n

Adding: \u201cThis does not mean ever-growing government, but it does mean a more active, smarter government that works in partnership with business, trade unions, local leaders, and devolved governments.\u201d<\/span><\/p>\n

\"\"

Richard Walker at Labour manifesto launch<\/p><\/div>\n

After an opening by deputy leader Angela Rayner, next up at the launch was Richard Walker, chief executive of Iceland, who until recently was a Conservative supporter who had even applied to be a Tory MP.\u00a0<\/span><\/p>\n

However, Walker said in the introduction to the manifesto that he now supports Labour:\u00a0 \u201cAs a business leader, I am sick and tired of chaos under the Conservatives. I am absolutely convinced that Keir Starmer is the leader to deliver the change this country needs.\u00a0 \u201c\u00a0\u00a0<\/span><\/p>\n

Labour\u2019s new industrial strategy will be advised by an Industrial Strategy Council, made up of representation from all nations and regions, business and trade unions.\u201d<\/span><\/p>\n

The strategy will \u201cback what makes Britain great\u201d and \u201cwill ensure a pro-business environment.\u201d<\/span><\/p>\n

Specific industries named as priority sectors included financial services, automotive, life sciences, and creative sectors.<\/span><\/p>\n

A \u00a37.3 billion National Wealth Fund will support projects like clean energy investment and will allocate: \u00a31.8 billion to upgrade ports and build supply chains across the UK; \u00a31.5 billion to new gigafactories; \u00a32.5 billion for the steel industry; \u00a31 billion for carbon capture; and \u00a3500 million to support the manufacturing of green hydrogen.<\/span><\/p>\n

Michael Moore, BVCA chief executive held back his obvious disappointment that Labour is persisting with its plan to close the loophole on carried interest for partners in private equity funds.\u00a0<\/span><\/p>\n

\u201cPrivate equity is the only industry where performance-related pay is treated as capital gains. Labour will close this loophole,\u201d the manifesto said.<\/span><\/p>\n

Moore said: “At a time when all political parties recognise that growth is the key priority, we will work to maintain the internationally competitive arrangements which attract capital and investment professionals to the UK.”<\/span><\/p>\n

“Labour have set out their taxation position. And we have shown the party how much venture capital and private equity contributes to the UK, backing 2.2 million jobs across the economy, in addition to the 140,000 in the industry itself.<\/span><\/p>\n

“This ecosystem provides the UK with a significant competitive advantage in securing investment and jobs. So, whoever wins the election, we will look forward to discussing how venture capital and private equity will continue to be partners for growth in the UK.”<\/span><\/p>\n

The building and housing finance sector welcomed Labour\u2019s pledge to back an overhaul of planning laws and start a massive housebuilding programme, including restoring mandatory housing targets and force councils to have up-to-date Local Plans.<\/span><\/p>\n

\"\"

Angela Rayner<\/p><\/div>\n

Deputy leader Angela Rayner had raised the housing ambitions at the UKREIFF conference in Leeds earlier this year.<\/p>\n

Simon Peacock, head of regions at JLL, the world\u2019s leading property advisory business, said: \u201cIt\u2019s heartening to see Labour grab the bull by the horns and be so bold in its commitments to level up the UK\u2019s economy.<\/p>\n

\u201cWhile finances might be tight and other issues generating more headlines, the need to drive real growth in the regions remains as important as ever. Take the power grid, for example, where the infrastructure currently in place has deterred investment and stymied growth for too long.<\/p>\n

\u201cBusinesses will also be hoping it can do more to ease the load on the planning system. While there\u2019s no quick fixes, one way they could make a success of the current system is through a concerted investment programme in the right amount, and quality, of planners to support local governments in their decision making. Those we speak to say they\u2019re prepared to pay a higher premium to ensure the resources are there to make planning quicker and easier.<\/p>\n

\u201cIt\u2019s also good to see Labour remain committed to devolution and giving locally elected mayors the powers to enact real change. After 14 years in the cold the party might have been tempted to keep its new-found power centralised, but devolving it has been crucial to giving businesses the confidence to invest in their towns and cities, powering growth and creating jobs. “<\/p>\n

Ryan Etchells, Chief Commercial Officer at leading housing lender Together, said: “A crackdown on \u2018nimbyism\u2019, commitment to build 1.5m new homes and plans to re-use brownfield land is all well and good. But it will be interesting to see whether the Government of whichever colour will be able to deliver on the support SME house builders need to make these ambitions a reality. This will be key for planning reform and encouraging access to finance for development.”<\/p>\n

Other commitments include \u201cbrownfield first approach\u201d to planning, the release of lower quality \u2018grey belt\u2019 land and a requirement of all Combined and Mayoral Authorities to strategically plan for housing growth in their areas. Taken together they called this \u201cthe biggest increase in social and affordable housebuilding in a generation.\u201d\u00a0<\/span><\/p>\n

On that Paul Dolan, the new Chief Executive of Riverside, headquartered in Liverpool, and one of England’s largest landlords managing more than 75,000 homes and operating in around 175 local authority areas in England, said: \u201cWe are also encouraged that under Labour\u2019s Grey Belt proposals developers will have to build more social and affordable homes, but we need to see this driven through specific targets set under the golden rule.\u201d<\/p>\n

On skills and education the manifesto promised new Technical Excellence Colleges \u201cwhich will work with businesses, trade unions, and local government to provide young people with better job opportunities and the highly trained workforce that local economies need.\u201d<\/span><\/p>\n

Dr Joe Marshall, Chief Executive of the National Centre for Universities and Business (NCUB), said: \u201cThe Labour Party Manifesto sets out a positive vision for unlocking and realising the strength of the UK research and innovation base. We warmly welcome the security of 10-year budgets for research and innovation to create greater certainty in the system and encourage private investment. We are pleased to see the critical role of universities, alongside employers, recognised in the design and delivery of Local Growth Plans.\u201d<\/p>\n

Marshall continued: \u201cWe also applaud Labour\u2019s promise to deliver a comprehensive strategy for post-16 education and reform the immigration and skills system, to ensure Britain is developing home-grown skills to meet the needs of business and the economy. The latest results of the Employer Skills Survey show a significant increase in skills gaps and vacancies have been persistently high at around 1 million. Decisive and strong policy change is vital to rectify our growing skills crisis.\u201d<\/p>\n

The manifesto also included a promise to \u201creform the Conservatives\u2019 broken Apprenticeships Levy.\u201d<\/span><\/p>\n

Andrew Martin, CEO and Founder of SMEB, a financial technology company dedicated to supporting small business liked the commitment to new local banking hubs: \u201cThe UK has lost 6,000 branches of banks and building societies since 2015, leaving many areas without access to essential financial services, such as the ability to withdraw and deposit cash. Urgent action is needed to address the UK’s banking deserts. It\u2019s good that the rollout of new banking hubs is a priority, but the new government can\u2019t do it alone. It’s going to require the combined efforts of private industry, including the very same banks who caused the problem to begin with.”<\/p>\n

Robin Fieth, CEO of the Building Societies Association, was pleased to see the Labour Party\u2019s public commitment to double the size of the co-operative and mutual sector as a core part of its plans for growth.<\/p>\n

“There are over 9,000 mutual and co-operatives in the UK, offering a competitive and purpose-driven alternative to shareholder-owned businesses. Their culture, behaviours and decisions differ because of their member ownership model. With no external shareholders to satisfy, they can take a long-term view, which can be reflected in their prices, products and services, leading to product innovation and a greater choice for the consumer.<\/p>\n

“The Building Societies Association (BSA), along with Co-operatives UK, The Association of Financial Mutuals, and ABCUL, has been calling on the government to ensure legislative and regulatory policies support mutuals and co-operatives and create a level playing field with their plc competitors, enabling them to thrive long into the future.”<\/p>\n","protected":false},"excerpt":{"rendered":"

Manifesto launch places business leaders front and centre<\/p>\n","protected":false},"author":264565,"featured_media":2134768,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"coauthors":[116163],"class_list":["post-2134760","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-featured-story","tag-national","tag-northwest","tag-top-story"],"yoast_head":"\nLabour will run 'dynamic and strategic state' with an industrial strategy\u00a0<\/title>\n<meta name=\"description\" content=\"Manifesto launch places business leaders front and centre\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.thebusinessdesk.com\/northwest\/news\/2134760-labour-will-run-dynamic-and-strategic-state-with-an-industrial-strategy\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Labour will run 'dynamic and strategic state' with an industrial strategy\u00a0\" \/>\n<meta property=\"og:description\" content=\"Manifesto launch places business leaders front and centre\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.thebusinessdesk.com\/northwest\/news\/2134760-labour-will-run-dynamic-and-strategic-state-with-an-industrial-strategy\" \/>\n<meta property=\"og:site_name\" content=\"North West\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-13T13:50:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-13T14:45:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.thebusinessdesk.com\/_files\/images\/jun_24\/Sacha-Lord-picture-e1718288552220.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1416\" \/>\n\t<meta property=\"og:image:height\" content=\"910\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Michael Taylor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Michael Taylor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.thebusinessdesk.com\/northwest\/news\/2134760-labour-will-run-dynamic-and-strategic-state-with-an-industrial-strategy\",\"url\":\"https:\/\/www.thebusinessdesk.com\/northwest\/news\/2134760-labour-will-run-dynamic-and-strategic-state-with-an-industrial-strategy\",\"name\":\"Labour will run 'dynamic and strategic state' with an industrial strategy\u00a0\",\"isPartOf\":{\"@id\":\"https:\/\/www.thebusinessdesk.com\/northwest\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.thebusinessdesk.com\/northwest\/news\/2134760-labour-will-run-dynamic-and-strategic-state-with-an-industrial-strategy#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.thebusinessdesk.com\/northwest\/news\/2134760-labour-will-run-dynamic-and-strategic-state-with-an-industrial-strategy#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.thebusinessdesk.com\/_files\/images\/jun_24\/Sacha-Lord-picture-e1718288552220.jpeg\",\"datePublished\":\"2024-06-13T13:50:15+00:00\",\"dateModified\":\"2024-06-13T14:45:07+00:00\",\"author\":{\"@id\":\"https:\/\/www.thebusinessdesk.com\/northwest\/#\/schema\/person\/ef8328ab3ac6604902a05be4ea4217f0\"},\"description\":\"Manifesto launch places business leaders front and centre\",\"breadcrumb\":{\"@id\":\"https:\/\/www.thebusinessdesk.com\/northwest\/news\/2134760-labour-will-run-dynamic-and-strategic-state-with-an-industrial-strategy#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.thebusinessdesk.com\/northwest\/news\/2134760-labour-will-run-dynamic-and-strategic-state-with-an-industrial-strategy\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/www.thebusinessdesk.com\/northwest\/news\/2134760-labour-will-run-dynamic-and-strategic-state-with-an-industrial-strategy#primaryimage\",\"url\":\"https:\/\/www.thebusinessdesk.com\/_files\/images\/jun_24\/Sacha-Lord-picture-e1718288552220.jpeg\",\"contentUrl\":\"https:\/\/www.thebusinessdesk.com\/_files\/images\/jun_24\/Sacha-Lord-picture-e1718288552220.jpeg\",\"width\":1416,\"height\":910,\"caption\":\"Starmer launches manifesto, pic courtesy of Sacha Lord\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.thebusinessdesk.com\/northwest\/news\/2134760-labour-will-run-dynamic-and-strategic-state-with-an-industrial-strategy#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.thebusinessdesk.com\/northwest\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Labour will run ‘dynamic and strategic state’ with an industrial strategy\u00a0\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.thebusinessdesk.com\/northwest\/#website\",\"url\":\"https:\/\/www.thebusinessdesk.com\/northwest\/\",\"name\":\"North West\",\"description\":\"Regional business news for North West\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.thebusinessdesk.com\/northwest\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.thebusinessdesk.com\/northwest\/#\/schema\/person\/ef8328ab3ac6604902a05be4ea4217f0\",\"name\":\"Michael Taylor\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/www.thebusinessdesk.com\/northwest\/#\/schema\/person\/image\/241ec2c8f1f38a8a00b680ed205f176c\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/fbe6fc427f0db68ac67e3919a3ebdbb2?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/fbe6fc427f0db68ac67e3919a3ebdbb2?s=96&d=mm&r=g\",\"caption\":\"Michael Taylor\"},\"url\":\"https:\/\/www.thebusinessdesk.com\/northwest\/news\/author\/michaeltaylor\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Labour will run 'dynamic and strategic state' with an industrial strategy\u00a0","description":"Manifesto launch places business leaders front and centre","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.thebusinessdesk.com\/northwest\/news\/2134760-labour-will-run-dynamic-and-strategic-state-with-an-industrial-strategy","og_locale":"en_GB","og_type":"article","og_title":"Labour will run 'dynamic and strategic state' with an industrial strategy\u00a0","og_description":"Manifesto launch places business leaders front and centre","og_url":"https:\/\/www.thebusinessdesk.com\/northwest\/news\/2134760-labour-will-run-dynamic-and-strategic-state-with-an-industrial-strategy","og_site_name":"North West","article_published_time":"2024-06-13T13:50:15+00:00","article_modified_time":"2024-06-13T14:45:07+00:00","og_image":[{"width":1416,"height":910,"url":"https:\/\/www.thebusinessdesk.com\/_files\/images\/jun_24\/Sacha-Lord-picture-e1718288552220.jpeg","type":"image\/jpeg"}],"author":"Michael Taylor","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Michael Taylor","Estimated reading time":"7 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.thebusinessdesk.com\/northwest\/news\/2134760-labour-will-run-dynamic-and-strategic-state-with-an-industrial-strategy","url":"https:\/\/www.thebusinessdesk.com\/northwest\/news\/2134760-labour-will-run-dynamic-and-strategic-state-with-an-industrial-strategy","name":"Labour will run 'dynamic and strategic state' with an industrial strategy\u00a0","isPartOf":{"@id":"https:\/\/www.thebusinessdesk.com\/northwest\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.thebusinessdesk.com\/northwest\/news\/2134760-labour-will-run-dynamic-and-strategic-state-with-an-industrial-strategy#primaryimage"},"image":{"@id":"https:\/\/www.thebusinessdesk.com\/northwest\/news\/2134760-labour-will-run-dynamic-and-strategic-state-with-an-industrial-strategy#primaryimage"},"thumbnailUrl":"https:\/\/www.thebusinessdesk.com\/_files\/images\/jun_24\/Sacha-Lord-picture-e1718288552220.jpeg","datePublished":"2024-06-13T13:50:15+00:00","dateModified":"2024-06-13T14:45:07+00:00","author":{"@id":"https:\/\/www.thebusinessdesk.com\/northwest\/#\/schema\/person\/ef8328ab3ac6604902a05be4ea4217f0"},"description":"Manifesto launch places business leaders front and centre","breadcrumb":{"@id":"https:\/\/www.thebusinessdesk.com\/northwest\/news\/2134760-labour-will-run-dynamic-and-strategic-state-with-an-industrial-strategy#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.thebusinessdesk.com\/northwest\/news\/2134760-labour-will-run-dynamic-and-strategic-state-with-an-industrial-strategy"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.thebusinessdesk.com\/northwest\/news\/2134760-labour-will-run-dynamic-and-strategic-state-with-an-industrial-strategy#primaryimage","url":"https:\/\/www.thebusinessdesk.com\/_files\/images\/jun_24\/Sacha-Lord-picture-e1718288552220.jpeg","contentUrl":"https:\/\/www.thebusinessdesk.com\/_files\/images\/jun_24\/Sacha-Lord-picture-e1718288552220.jpeg","width":1416,"height":910,"caption":"Starmer launches manifesto, pic courtesy of Sacha Lord"},{"@type":"BreadcrumbList","@id":"https:\/\/www.thebusinessdesk.com\/northwest\/news\/2134760-labour-will-run-dynamic-and-strategic-state-with-an-industrial-strategy#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.thebusinessdesk.com\/northwest\/"},{"@type":"ListItem","position":2,"name":"Labour will run ‘dynamic and strategic state’ with an industrial strategy\u00a0"}]},{"@type":"WebSite","@id":"https:\/\/www.thebusinessdesk.com\/northwest\/#website","url":"https:\/\/www.thebusinessdesk.com\/northwest\/","name":"North West","description":"Regional business news for North West","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.thebusinessdesk.com\/northwest\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Person","@id":"https:\/\/www.thebusinessdesk.com\/northwest\/#\/schema\/person\/ef8328ab3ac6604902a05be4ea4217f0","name":"Michael Taylor","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.thebusinessdesk.com\/northwest\/#\/schema\/person\/image\/241ec2c8f1f38a8a00b680ed205f176c","url":"https:\/\/secure.gravatar.com\/avatar\/fbe6fc427f0db68ac67e3919a3ebdbb2?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/fbe6fc427f0db68ac67e3919a3ebdbb2?s=96&d=mm&r=g","caption":"Michael Taylor"},"url":"https:\/\/www.thebusinessdesk.com\/northwest\/news\/author\/michaeltaylor"}]}},"_links":{"self":[{"href":"https:\/\/www.thebusinessdesk.com\/northwest\/wp-json\/wp\/v2\/posts\/2134760","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.thebusinessdesk.com\/northwest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thebusinessdesk.com\/northwest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thebusinessdesk.com\/northwest\/wp-json\/wp\/v2\/users\/264565"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thebusinessdesk.com\/northwest\/wp-json\/wp\/v2\/comments?post=2134760"}],"version-history":[{"count":6,"href":"https:\/\/www.thebusinessdesk.com\/northwest\/wp-json\/wp\/v2\/posts\/2134760\/revisions"}],"predecessor-version":[{"id":2134771,"href":"https:\/\/www.thebusinessdesk.com\/northwest\/wp-json\/wp\/v2\/posts\/2134760\/revisions\/2134771"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thebusinessdesk.com\/northwest\/wp-json\/wp\/v2\/media\/2134768"}],"wp:attachment":[{"href":"https:\/\/www.thebusinessdesk.com\/northwest\/wp-json\/wp\/v2\/media?parent=2134760"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thebusinessdesk.com\/northwest\/wp-json\/wp\/v2\/categories?post=2134760"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.thebusinessdesk.com\/northwest\/wp-json\/wp\/v2\/coauthors?post=2134760"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}