Mayor Luke Campbell has responded to the Government’s new ten-year Industrial Strategy, saying it “must deliver” for Hull and East Yorkshire.
The Government plan seeks to back domestic industry in an increasingly “unpredictable” global economy. It identifies eight sectors which are predicted to be at the forefront of British growth. These sectors, dubbed the IS-8, include Clean Energy Industries, Advanced Manufacturing, and Life Sciences.
Key to the Industrial Strategy is the plan to cut energy costs for IS-8 manufacturing industries and foundational industries from 2027 in a bid to ensure the UK is an attractive place for business. By making ‘eligible businesses’ exempt from paying the Renewables Obligation, Feed-in Tariffs, and the Capacity Market, the scheme would look to bring UK energy costs in line with those of other major European economies.
The Government’s Industrial Strategy document states: “The global trading environment has become more unpredictable, the fragility of global supply chains more apparent, and our economic competitors have been more assertive and disruptive in promoting their national industries.
“Now more than ever, businesses are seeking out countries that can provide them with the confidence to invest and grow.”
Hull and East Yorkshire Combined Authority Mayor Mr Campbell has responded to the Industrial Strategy, saying: “After years of underfunding, we welcome the Government’s long-term plan to back key sectors in our region – including the Freeport, Advanced Manufacturing, Life Sciences, MedTech, and New Energy (including hydrogen and nuclear fusion). Hull and East Yorkshire has the land, trade infrastructure, and investment potential to deliver real growth and spread prosperity across the UK.”
The Mayor added that connectivity to our region is crucial to its growth. His response states: “To make the most of these opportunities, we need better rail links. It’s disappointing to see East-West electrification stop at York. Our Freeport and industrial hubs need strong connections – and we have clear, deliverable plans to make that happen.”
