UK creative industries named as growth driver' in government's Industrial Strategy

A green paper published today outlines the governments aim to attract investment into the most productive parts of the UK economy

By Matthew Corrigan

Published: October 14, 2024 Updated: October 15, 2024

A green paper published today outlines the government's aim to attract investment into the most productive parts of the UK economy

target=_blank title=Share on LinkedIn class=share-linkedin> A green paper published today outlines the government's aim to attract investment into the most productive parts of the UK economy

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The UK government has unveiled its new Industrial Strategy.

Launched to align with the International Investment Summit, the strategy aims to create a pro-business environment and play to the country's strengths, with Business Secretary Jonathan Reynolds stating it will hardwire stability for investors and give industry the confidence to plan for the next 10 years and beyond

A new advisory council, chaired by Claire Barclay, CEO of Microsoft UK, will provide expert advice developed in partnership with business, unions, and stakeholders from across the UK.

The creative industries have been identified as one of eight growth driving sectors, which will form the main focus of the strategy.

The UK government added its strategy will create a pro-business environment to capture a greater share of internationally mobile investment in strategic sectors and motivate domestic business to boost their investment and scale up their growth .

Commenting on the announcement, Mark Read, WPP CEO, said, WPP supports the government's objective to create and foster an investment environment that drives long-term growth. As a global marketing services company, we believe that the UK's world-leading creative industries, powered by new technologies like AI and exceptional talent, can continue to play a key role in further advancing the UK's investment case on the global stage.

In response to the announcement, Directors UK, the professional association for UK screen directors, said, The Creative Industries are rightly recognised in the government's new Industrial Strategy as one of the key sectors for driving growth in the UK. Our screen sector brings enormous economic, social and cultural value and has the potential for so much more. We look forward to working with the government to ensure that the UK's incredible screen sector talent is at the heart of developing and delivering this strategy for growth and opportunity across the UK.

The government has published a green paper outlining its aim to attract investment into the most productive parts of the UK economy.

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