The government has recently unveiled the Industrial Strategy Advisory Council (ISAC), a strategic initiative designed to bolster economic growth and enhance living standards nationwide. This announcement came from the Department for Business and Trade and HM Treasury, highlighting the council's pivotal role in shaping the nation's economic future.

Chaired by Clare Barclay, President, Enterprise & Industry for EMEA at Microsoft, and featuring a distinguished roster including Dame Anita Frew, Chair of Rolls-Royce, and Greg Jackson CBE, CEO of Octopus Energy, the ISAC brings together a broad spectrum of leaders from industry, academia, and labour. Their mission is to offer independent advice to the government, guiding the development of a new, modern Industrial Strategy that aims at stimulating sectors and regions with high growth potential.

The Industrial Strategy intends to create a favourable business environment that will attract both international and domestic investments, helping to catalyse expansion and innovation across various sectors. The initial meeting of the ISAC was hosted at Lloyds Insurance in London, focusing on critical discussions about investment strategies, innovation, and addressing growth barriers in vital economic sectors.

Following the inaugural meeting, the ISAC is set to embark on a comprehensive engagement program to gather insights from a wide array of stakeholders, including business communities, academic leaders, and regional governments. This collaborative effort is reflective of the government's comprehensive approach to ensure inclusive economic growth that benefits every region of the UK.

For members of the Rural Services Network, the formation of the ISAC and the rollout of the Industrial Strategy offer potential opportunities to engage with broader economic developments that could impact rural areas. The focus on diversifying investment and enhancing growth in high-potential sectors could lead to increased infrastructure and job creation in rural regions, aligning with broader goals of economic parity and sustainability.

The establishment of the Industrial Strategy Advisory Council represents a proactive step towards reshaping the UK's economic landscape. It promises to foster an environment conducive to growth and innovation, paving the way for a balanced and prosperous economic future across all parts of the UK.

For further information on the ISAC and to access resources such as the Industrial Strategy Green Paper, please visit the official government websites linked below.

Visit the ISAC's Official Page Access the Industrial Strategy Green Paper