UK Modern Industrial Strategy

Alan Strickland Excerpts

Monday 23rd June 2025 Commons Chamber

[Jonathan Reynolds]

It is very important that we show the British people that the added investment and huge increase in defence spending from this Government will see real economic benefits for them and opportunities for their families, as well as fulfilling the core function of national security. My hon. Friend mentions devolution. We have measures in the strategy for local areas, whether or not they have mayoral leads on innovation and mayoral growth funds, many of which build on the very successful work of Andy Burnham, my Labour mayor in Greater Manchester, and Richard Parker in the west midlands, who have done brilliant things. Those are the most developed and mature mayoral areas. We can see what has worked in those places, and it really is starting to work. Let us have more of that across every bit of the UK, tailored for local needs and with the right tools that those political leaders need.

[Alan Strickland (Newton Aycliffe and Spennymoor) (Lab)]

I welcome this incredibly ambitious industrial strategy. I will ask specifically about our high-tech SMEs. At NETPark in Sedgefield, we have a cluster of more than 40 businesses making satellite components, medical imaging equipment and other high-tech products. However, as the Secretary of State knows, too often they struggle to get private finance, and they have struggled in the past to get Government innovation funding. How will this strategy really put the rocket boosters behind high-tech SMEs in regions such as the north-east?

[Jonathan Reynolds]

I always take a close interest in success stories from the north-east of England, and what my hon. Friend outlines is incredibly exciting. The high-tech SME cluster that he talks about will benefit in many ways from each of the sector plans, whether they are in advanced manufacturing, creative industries or defence. There are provisions on access to finance for them in this strategy and the dedication of resources from the defence budget, for instance, for that sector. Those businesses are set to fly, and with this industrial strategy my hon. Friend has a real chance to build and communicate the opportunities for them over the next few years.