Government's Industrial Strategy builds on a strong economy

We live in turbulent global times, but the Conservatives’ sound management of the economy is continuing to deliver more jobs and higher wages for people in London and across Britain.

In the past fortnight we’ve had lots of welcome news confirming this position:

  • Economic growth accelerated at the end of 2016, led by strong expansion in the services and construction industry
  • New homes are being built at the fastest rate since 2007, with plenty of examples of new housing in Tooting and Wandsworth
  • The UK technology sector received a high level of investment in 2016 - more than any other European country, both before and after the EU Referendum
  • In 2016 as a whole, the British economy grew 2%, the fastest rate of any major developed economy
  • We remain close to full employment and wages are also growing – by 2.8% in December 2016.

The Prime Minister has set out her plan for an ambitious free-trade agreement with Europe, as well as signing new trade deals with the US, India, and many other global markets.

And at home, Theresa May has set out her Industrial Strategy for Britain, with a focus on boosting skills, more infrastructure investment and greater spending on Research & Development in our leading industries.

There is much work to do but we are starting from a good position, the Government is taking proactive measures to address weaknesses, and I very much hope we can make a success of our new role in a changing world.