Brexit must accelerate Industrial Strategy | KPMG | UK

Brexit must accelerate Industrial Strategy not inhibit it

Brexit must accelerate Industrial Strategy

James Stewart, Vice Chair at KPMG, speaks ahead of the release of the Government’s Industrial Strategy.

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Speaking prior to the release of the Government’s Industrial Strategy, James Stewart, Vice Chair at KPMG UK said:

“Brexit has brought the UK’s fractured economic landscape into sharp relief.  The way we generate wealth at a national level isn’t working for some people. 

“The UK’s patchwork quilt of regional initiatives has left some towns and regions detached from national prosperity.  The Government’s Industrial Strategy needs to fix these imbalances urgently and address the UK’s productivity challenge, especially if we are to compete on a global stage post-Brexit.

“Massive gains can be made if we adopt a bold new approach to regional infrastructure, put in place an education system to give people the right skills for tomorrow’s AI enabled workplace, and create faster routes to market through UK-wide incentives to commercialise R&D. Making sure the regionalisation of funding in England catches up with regionalisation policy will also be important.

“Next week’s White Paper should be a step towards realising those ambitions, but as business people know only too well, ideas are often the easy part – serious, sustained investment can be a much harder nut to crack.  With the Brexit negotiation clock ticking, driverless cars soon to be found on our streets, and drones about to populate our skies - the UK needs to get a move on.  We need to make Brexit an accelerant to this process rather than an inhibitor.”

Notes to editor:

KPMG - Improving UK regional productivity performance report

For further information please contact:

Paul Middleton, KPMG Corporate Communications

Tel: (0) 20 7694 2180 / Mobile: 0738 725 7543 / Email: Paul.Middleton@kpmg.co.uk  

KPMG Press Office

Tel:  +44 (0) 207 694 8773 

About KPMG 

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 13,500 partners and staff.  The UK firm recorded a revenue of £2.07 billion in the year ended 30 September 2016. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 189,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  Each KPMG firm is a legally distinct and separate entity and describes itself as such. 

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