26 JAN 2017

New Industrial Strategy seeks to benefit business in Tamworth

Tamworth's MP Christopher Pincher has welcomed the Government's plans for a new modern 'Industrial Strategy' which aims to support businesses in Tamworth and around the country to grow and create more highly paid and skilled jobs.

The Industrial Strategy introduces ten 'pillars' – including investing in science, research and innovation, and upgrading infrastructure – that underpin an approach to boosting new sectors of the economy.

For Tamworth and the West Midlands, the document sets out a series of aims, such as cultivating the area's world-leading sectors, including the Advanced Manufacturing & Engineering Sector in Birmingham and Solihull, which employs around 115,000 people and accounts for 60 per cent of the UK's automotive R&D.

There are also plans to support the development of major infrastructure projects, by providing development funding for major upgrades such as the Midlands Rail Hub. Businesses will also see improved access to finance through initiatives such as the Midlands Engine Investment Fund.

Commenting, Mr Pincher said:

'The Industrial Strategy will greatly benefit business in Tamworth and I think it's important the Government is focussing on aspects of the economy which we have locally, such as research and development, sciences and skilled manufacturing.

'I believe this to be a very important step to rebalancing our entire economy across the country but also helping to deliver the Midlands Engine.

'This is an important step in building a modern, dynamic Industrial Strategy that will deliver more high skilled, high wage jobs and improve living standards and drive economic growth across Tamworth.'

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