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‘Flip-flopping’ has cost UK billions in investment cash since 2010, says report
(www.theguardian.com)
this post was submitted on 17 Nov 2023
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This is the best summary I could come up with:
As the chancellor, Jeremy Hunt, prepares for his autumn statement next week, industry bosses warned ministers that more consistency was required to increase investment levels after more than a decade of instability.
According to the left-of-centre Institute for Public Policy Research thinktank, the constant chop and change of government industrial strategy and a revolving door for senior ministerial appointments have undermined the country’s ability to attract investment.
Describing the lack of a long-term industrial strategy as the UK’s “achilles heel”, Phipson urged the government to set out its strategic objectives, including for growing green manufacturing.
Hunt is preparing to outline the government’s plans for increasing private investment and growing the economy, after forecasts from the Bank of England this month showed Britain would come close to recession next year.
Representing more than 35,000 companies in the British Chambers of Commerce network, the bosses said the autumn statement would be one of the government’s last chances before the next general election to show it could provide businesses with the long-term certainty they needed to make investment decisions.
A spokesperson for the Treasury said the chancellor planned to “focus on the growth industries of the future” at the autumn statement, adding: “We want to be a global leader in these sectors where there is a strategic opportunity to progress – backing business to innovate and grow the UK economy, creating good jobs across the country.”
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