Theresa May unveils modern industrial strategy

British Prime Minister Theresa May unveiled an industrial strategy to fit the condition of post-Brexit British economy on Monday as she held her first regional cabinet meeting in the northwest of England.

The plan titled Building our Industrial Strategy has 10 points, including investing in science, research and innovation, developing skills, upgrading infrastructure, supporting business to start and grow, improving government procurement, encouraging trade and inward investment, delivering affordable energy and clean growth, cultivating world-leading sectors, driving growth across the whole country and creating the right institutions to bring together sectors and places.

According to the plan, the objective of this modern industrial strategy is to improve living standards and economic growth by increasing productivity and driving growth across the whole country.

This strategy is "a critical part of our plan for post-Brexit Britain. It will help to deliver a stronger economy and a fairer society," May said.

The prime minister hopes that through this new approach Britain will "seize the opportunities of Brexit to build a brighter future for all."

Greg Clark, the Secretary of State for Business, Energy and Industrial Strategy, said a modern industrial strategy must make the UK one of the most competitive places in the world to start or grow a business. Enditem