Recycling wins a place in Industrial Strategy

Recycling wins a place in Industrial Strategy

Recycling wins a place in Industrial Strategy

MSD, known as Merck and Co in the USA and Canada, announced plans to launch a life sciences discovery research facility just hours ahead of the United Kingdom government's release of its industrial strategy.

"Britain's productivity performance has not been good enough, and is holding back our earning power as a country".

Following on from an increase in research funding outlined in the budget, the White Paper reaffirms the government's commitment to reach "2.4 per cent of GDP [gross domestic product] investment in R&D by 2027 and to reach 3 per cent of GDP in the longer term, placing us in the top quartile of OECD [Organisation for Economic Cooperation and Development] countries".

As part of the strategy, an "Industrial Strategy Challenge Fund" will invest an additional GBP725m in new programmes to "capture the value of innovation".

Mr Clark said Britain has some of the world's best universities and research institutions, as well as leading companies in sectors ranging from advanced manufacturing to financial services, life sciences and creative industries.

The investment announced by MSD, known as Merck and Co in North America, will support a new world-leading life sciences discovery research facility in the United Kingdom, supporting a total of 950 jobs in high-skilled and high-value research roles.

Carolyn Fairbairn, the director general of the Confederation of British Industry, warned that today's announcement "must be the beginning of a strategic race, not a tactical sprint", and urged the government to ensure the effects of Brexit were not allowed to harm industrial strategies as they are rolled out across the nation.

The facility is meant to become the new location for MSD's United Kingdom headquarters.

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Clarke added: "The way we earn and live our lives as workers, citizens and consumers is being transformed by new technologies".

Announcing the launch Prime Minsiter Theresa May said: "Our modern Industrial Strategy will shape a stronger and fairer economy for decades to come".

In the document, the Department for Business, Energy and Industrial Strategy (DBEIS), pledges to "work closely" with retailers to increase productivity.

Sector deals are partnerships between the government and industry on sector-specific issues that, it is hoped, can create significant opportunities to boost productivity, employment, innovation and skills. Some sectors will be disappointed not to have been picked in the first round of deals.

This new campus will generate new skilled jobs and attract companies from across the world to the north west, while the company has confirmed it is going to expand its current operations in Manchester, with the potential to create 800 skilled jobs.

Louise Houson, managing director of MSD in the United Kingdom and Ireland, said: "We believe London to be a unique bioscience centre of excellence and a key component of the established golden triangle for academic science of London-Oxford-Cambridge". "Our success together can advance science and improve the lives of patients in the local region as well as worldwide".

CEO Dr Colin Church says "CIWM was looking for the Industrial Strategy White Paper to recognise the role improving resource productivity can play in helping the United Kingdom economy meet the challenges it faces". Government will be working with industry and academia to deliver this goal.

The Strategy comes after a green paper consultation earlier this year received nearly 2,000 responses from industry and academia. These are: artificial intelligence, clean growth, an aging society and the future of mobility.

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