Industrial plan can help cut regional wealth gap - Lewis

Clive Lewis, the Shadow Business Secretary, warned an economic plan was needed to ensure Britain was creating highly skilled and well-paid jobs rather than engaging in a “race to the bottom”.

Successive governments have shunned the idea of an industrial strategy in recent years, arguing the success or failure of particular sectors of the economy should be left to the market.

But both Theresa May and Labour leader Jeremy Corbyn have made the case for a return to a more planned approach to the economy in recent months.

Mr Lewis was in South Yorkshire as part of Labour’s ongoing consultation on its economic plan.

He said: “I think people now understand, and it has been brought sharply into focus by what’s happening with Brexit, that the de-regulated laissez-faire approach to economic growth creates imbalances in terms of wealth, income, geographically.

“Our industrial strategy is about how do you begin to shape that growth, direct that growth into the areas you want it to, high skilled, high paid, knowledge economy type jobs and skills.”

Mr Lewis rejected the idea that adopting an industrial strategy was a return to the 1970s or a choice of public or private sector.

“We are talking about a very different type of industrial strategy, one which works in partnership with business, one that works with the market,” Mr Lewis said.

The Shadow Business Secretary said Government could play a role by giving the private sector long term signals on policy in areas like energy.

“What we are talking about is giving our country the ability to be able to forge ahead in an increasingly competitive world but in a way which isn’t a race to the bottom,” he said.

Mr Lewis also warned the country needed to plan for the impact of technology on jobs and the implications for future generations.

His visit to South Yorkshire included stops at Forgemasters in Sheffield, the Advanced Manufacturing Park in Rotherham and the construction site for the new HS2 college taking shape in Doncaster.