Chancellor of the Exchequer Rachel Reeves has unveiled the UK’s modern industrial strategy, setting out plans to drive investment in key sectors such as robotics, automation and advanced manufacturing.
The announcement, made during a speech at Siemens Healthineers in Oxfordshire, forms part of the UK government’s wider economic growth agenda.
Reeves emphasised that the strategy is designed to unlock private sector investment and strengthen the UK’s position in high-growth industries.
“Our modern industrial strategy will drive investment into the sectors that will define our success in the years ahead,” she said.
“We have already provided funding to unlock investment in aerospace, automotive, and life sciences, and we are committed to boosting financial services, the AI sector and creative industries.”
The strategy aims to foster innovation through targeted government support and regulatory reforms.
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The government has pledged to publish further details in the spring, outlining its approach to ensuring the UK remains competitive in a rapidly evolving technological landscape.
A key element of the strategy will be the expansion of the National Wealth Fund, which will provide deeper, more focused support for industrial investment.
Reeves also highlighted the importance of modernising infrastructure to support growth in robotics and automation.
She confirmed that upcoming reforms to planning and regulatory processes would make it easier for companies in these sectors to scale up operations and bring new technologies to market more quickly.
“Innovation and investment go hand in hand,” Reeves stated. “We want to see the UK become the best place in the world for businesses developing cutting-edge technology, from robotics to AI-driven manufacturing.”
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