New industrial strategy is a 'huge opportunity' for businesses in West Lothian
Energy costs will be slashed by a quarter for eligible manufacturers
Gregor Poynton MP has backed the industrial strategy revealed this week by the Labour government insisting it's a huge opportunity for Livingston and West Lothian.
The UK's Modern Industrial Strategy is a bold 10-year plan to boost local businesses, enhance skills and support growth. It aims to tackle the barriers holding back British businesses and unlock investment across the country.
The Industrial Strategy will promote business investment and growth and make it quicker, easier and cheaper to do business in the UK, giving businesses the confidence to invest and create 1.1 million well-paid jobs in thriving industries – delivering on this government's Plan for Change.
As part of the announcement, energy costs will be slashed by 25 per cent for eligible manufacturers, bringing prices in line with Europe and accelerating grid connections through the new Energy Price Relief Scheme.
The strategy will focus on eight key growth sectors including clean energy and life sciences supporting 118,952 jobs across Scotland.
Gregor Poynton, MP for the Livingston constituency said: 'This Industrial Strategy is a huge opportunity for Livingston and West Lothian. By cutting energy costs and unlocking record levels of investment, it will directly benefit the sectors that power our local economy from advanced manufacturing and logistics to life sciences and technology.
'It means that major local employers like Mitsubishi, Sky, Shin-Etsu, Wyman Gordon, Valneva and other firms based across West Lothian be better placed to grow, invest and create more good, secure jobs for local people.
'This long-term plan will help deliver more apprenticeships for young people, fresh opportunities for skilled workers, and the stability our local businesses need to thrive.
'The strategy builds on the Spending Review and Infrastructure Plan, targeting support where it's needed most and making it easier for all businesses to thrive. It aims to double business investment in growth sectors to £240bn annually by 2035.'
'This is proof that Labour is delivering on its Plan for Change and committed to delivering the long-term stability and investment that industry needs to grow.'
Business and Trade Secretary Jonathan Reynolds said: 'We've said from day one, Britain is back in business under this government and our Plan for Change is already delivering for working people.
'This Strategy will ensure the UK is the best place to invest and do business, delivering growth that puts more money in people's pockets and pays for our NHS, schools and military.'
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