Department for Business and Trade’s Post

Why the #UK is the best place to start and grow a business? Check out the key takeaways from the Chancellor's speech on growth to figure out 👇

These announced reforms to kickstart economic growth include plans to turbocharge regional investment and unleash the full potential of UK cities and regions by attracting investment and fostering an environment where businesses can thrive. It’s why the UK’s work in the South East US connecting with companies and private industry looking to invest beyond the US is essential. It is businesses who deliver things on the ground, generate wealth, create jobs, and understand the best solutions to the problems we face. 

Chancellor Rt Hon Rachel Reeves' speech at Siemens Healthineers highlights the UK's commitment to growth, stability, and investment — key factors that make it the best place to start and scale a business. With a modern Industrial Strategy and a focus on sectors like life sciences, AI, and financial services, the UK is reinforcing its global competitiveness. Latin American businesses looking to expand internationally will find a thriving, supportive environment in the UK. Definitely a great opportunity to deepen trade and investment partnerships.

Rt Hon Rachel Reeves spent yesterday hammering yet more nails into the coffin of “levelling up.” Oxford, Cambridge, London (Heathrow), and the South East were the focus of her attention. In opposition she mocked Boris Johnson’s idea of rebalancing the economy by rebuilding our once great northern cities as being all rhetoric and no money. There was money, and city’s such as Sheffield and Rotherham benefited from it. Not enough, of course. And not fast enough. But at least there was a clear vision and purpose behind it. If Reeves had wanted to make a big, bold and brassy statement of her intent to grow the economy she could have announced the completion of HS2 (High Speed Two) Ltd connecting London to Sheffield, Leeds and Manchester alonside an accelerated build of the TransPennine rail. That would have been a hugely symbolic political gesture: creating something the Tories had spectacularly failed to do. There were a few nods to the North, but the Oxford Cambridge Corridor and the wise decision to appoint Science Minister Paddy Vallance to oversee its development , took centre stage, along with big growth plans for Heathrow AirPort with a third runway along with other southern major airports. Oliver Coppard — who didn’t even merit a name check in the Chancellor’s speech, unlike his neighbours Tracy Brabin and Andy Burnham —had to settle for nothing more than warm words of support for his efforts to secure the re-opening of Doncaster Sheffield Airport, as the hard cash was being spent on the might Heathrow and the South. Where Boris was all flash, Rachel is all pan. Dead pan. There are echoes here, however, of another chancellor and a Burlington chum of Boris: the austerity Chancellor George Osborne. Her first Budget was an austerity Budget. It pummelled the wealth creators in the economy, alongside freezing pensioners. Her Autumn Budget, I suspect, will hit hard a local government network stretched to breaking point. But the most conspicuous similarity is the desperate and deeply misguided tilt to China. For the last three decades successive UK and western governments have exported jobs, industries and skills to China at the not so hidden cost to northern towns and cities whose communities have been hollowed out to become the breeding ground for ground of populists. All the time, in plain sight, China set out to become a manufacturing and technological superpower. It has achieved that goal in 15 short years. Now, Reeves is going cap in hand to Beijing asking them to bring their manufacturing expertise and wealth to Britain, to build electric cars and huge offshore wind farms… and doubtless more. Why? Because successive governments have willingly de-industrialised and de-skilled our communities. We should be taking a leaf out of the China playbook: not cash from its cheque book. We should be urgently rebuilding the manufacturing capabilities of the UK. Design and build our own energy systems, trains, planes and automobiles.

This is the first time the UK may have a cohesive industrial strategy and it is important we all take the opportunity to respond to this consultaiton to shape what an Industrial Strategy means for Financial and professional Services and related technologies

British Chambers of Commerce reaction to PM Kier Starmer's speech. Director General Shevaun Haviland: "The target of 150 new infrastructure projects is one that business will welcome, with its potential to boost regions and reinvigorate supply chains. But there is still a huge gap between the what and the how and when. "With a bruising budget forcing many firms to revisit their investment and hiring plans, the pathway to this promised growth needs to accelerate." Read our full reaction to the PM's speech👇 #ukeconomy #Growth https://lnkd.in/e_anq6MQ

Economy & Infrastructure January Edition: Wales’ Economic Outlook in 2025 GUEST COLUMN: The Year to Bring Wales’ Business Ecosystem Together Written by Ben Cottam, Head of Wales of Federation of Small Businesses (FSB) https://lnkd.in/gdZhCkD5

Taken from today's written statement to Parliament (https://lnkd.in/euyt3eZj) by Jonathan Reynolds MP; these are the key areas to focus your business on. Over the last 25 years, roughly 60% of our productivity growth was generated by just 30% of our most productive industries. That is why our Industrial Strategy has identified eight key growth-driving sectors – in which the UK excels today and will excel tomorrow. - Advanced Manufacturing - Creative Industries - Clean Energy Industries - Defence - Digital and Technology - Financial Services - Life Sciences - Professional and Business Services. In the next stage of development of the Industrial Strategy, we will prioritise sub-sectors within these broad sectors that meet our objectives.... We will give Mayors in England the tools they need to grow their economies and develop ambitious 10-year Local Growth Plans. We will also work in partnership with the devolved governments to make this Industrial Strategy a UK-wide effort. So your local authority is going to have more power, autonomy and resources to help your business. Make sure you know who your local authority is, and make sure you're AT LEAST subscribed to their economic development team's updates on social media.

One key area of focus for the new government is economic growth, and it certainly looks like the devolved combined authorities are going to play a pivotal role in achieving this goal. Our latest newsletter for international businesses outlines the importance of devolution, investment zones and industrial strategy. We also look at the UK's new industrial strategy, future tax changes hinted at in the King's Speech, issues with sponsor licences, and more. Read it here: https://bit.ly/3AcyyK1 #UKEconomy #InternationalBusiness #EconomicGrowth

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