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Gloucestershire Business News

CBI calls for new industrial revolution

The quest for 'net zero' represents a 'once in a generation' opportunity for the country's heartlands to lead a new industrial revolution, the head of the CBI says.

Speaking at the Confederation for British Industry's three-day annual conference, Director-General Tony Danker will say: "In hydrogen. Off-shore wind. Carbon Capture. Electric Vehicles and batteries, and other net-zero solutions. A chance for these places to be world-leading again. If this isn't levelling up, I don't know what is."

He says that the UK has spent the past decades suffering from de-industrialisation, but the new situation gave the country 'a shot at redemption', a chance to regenerate with new industries - such as biotech, space, and cybersecurity.

He adds that with the most productive parts of a sector, such as HQs, too often based in London and the South East, the UK is operating as a 'branch line economy'.

Danker will tell the conference: "Simply saying the market will fix this is not good enough. There are free marketeers in the debate who say Government should never play an active role like this.

"But I don't know a country in the world - including, and indeed especially, the United States - where governments aren't active in economic geography. Governments don't create jobs and wealth. Businesses do. But businesses alone don't make places better. That's on all of us".

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