International Trade Secretary says UK “is open and ready for business” following government’s Industrial Strategy launch

International Trade Secretary, Dr Liam Fox, has reiterated that the UK “is open and ready for business” following the launch of Prime Minister Theresa May’s Industrial Strategy.

During a visit to Prodrive, an advanced technology business in Oxfordshire, the International Trade Secretary outlined the steps the government is taking to support trade and investment across the country which can have a significant impact on the growth of local economies.

The industrial strategy green paper sets out a plan to improve living standards and economic growth by increasing productivity and driving growth across the whole country.

In order to achieve this, the green paper sets out ten strategic pillars to underpin a new government approach.

One of the pillars is to encourage trade and inward investment policy, which according to Dr Liam Fox is key to opening up markets for UK firms, boosting productivity and growth across the economy.

The Secretary of State for International Trade, Dr Liam Fox, said: “Trade and investment is a vital part of building an economy that works for all, creating jobs and transforming local communities and industry.

“Across the UK we’re pioneering a whole host of new technologies, working with industry and universities to ensure Britain remains the location of choice for many sectors, such as the next-generation automotive industry.

“Prodrive is a fantastic example of innovative British automotive engineering at its best and a great illustration of our how we can and should be exporting our world-class expertise to benefit our economy.

“The UK is open and ready for business and the launch of the Industrial Strategy today shows our commitment to improving growth and productivity across the whole country.”

The Department for International Trade is spearheading government work to continue to promote free trade and ensure it helps deliver a stronger economy.

As part of Industrial Strategy, the government has also earmarked a £556m boost for the Northern Powerhouse initiative. This funding will help create new jobs, support businesses and generate growth across the North of England.