Labour postpones long-awaited industrial strategy

Labour postpones long-awaited industrial strategy
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Labour postpones long-awaited industrial strategy
Author: Heather Stewart and Richard Partington
Published: Feb, 12 2025 19:48

Summary at a Glance

Richard Torbett, the chief executive of the Association of the British Pharmaceutical Industry, said the government’s plans for the NHS, life sciences sector and the industrial strategy needed to “work together seamlessly” to support businesses.

The focus on parts of the industrial strategy comes after Reeves used her growth speech last month to say that manufacturers had been “banging their heads against the wall for years” about the lack of a proper plan from government.

It comes as Jonathan Reynolds, the business secretary, will use a speech on Thursday to restate Labour’s growth commitment by talking up the industrial strategy and plans to shake up regulatory barriers holding back businesses.

Labour’s long-awaited industrial strategy will not now be published until June, while ministers will bring forward plans for individual sectors in a bid to show they are working to kickstart growth, it has emerged.

Sources said the government was preparing to give updates on some of the sectors being prioritised by the industrial strategy in the coming months, ahead of the formal spending review announcement.

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