Labour's industrial strategy, crucial for boosting the economy, has been delayed to June. In the interim, focus will be on sector-specific strategies for life sciences and advanced manufacturing to instill business confidence. This adjustment is in response to Britain’s economic challenges, including risks of recession and declining GDP. Upcoming official figures are expected to highlight these issues further. The government aims to unveil details on prioritized sectors in the coming months, as ministers seek to articulate a proactive approach amid concerns over stagnation in economic progress and rising inflation pressures on households.
The broader industrial strategy, previously scheduled for spring, is now expected to be published around June, coinciding with the spending review.
Strategies for life sciences and advanced manufacturing are prioritized for early publication to help revive fragile business confidence.
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