Brexit offers a chance for the UK to reset its industrial strategy and ease the transition to a green economy.
That’s according to The Prince of Wales’ Corporate Leaders Group (CLG), which has released a discussion paper to inform a government consultation commencing today.
The group brings together 24 leading businesses from across Europe, including Unilever, GSK, 3M, Tesco, Sky and EDF.
It argues government and business need to work closer together than ever before to make sure the UK achieves its 2050 targets and says leaving the EU could offer the clean slate needed to achieve this.
The CLG adds the main challenges that need to be overcome are boosting sluggish economic growth, promoting greater regional development and moving towards a more sustainable economy with reduced emissions.
This could be achieved by creating jobs, improving productivity and boosting innovation while also supporting industry to go green.
It suggests the strategy will need to support growing demand for digitised and service-based products, production priorities shifting towards recycling and changes regarding the nature and availability of energy.
Jill Duggan, Director of CLG, said: “With Brexit, the UK has the chance to reset policy and not be left behind. It is essential that our new industrial strategy is clear, ambitious and targeted enough to deliver a modern, prosperous, inclusive and zero carbon economy.”
The National Grid has warned leaving the EU energy market could slow vital development and drive up the cost of imported power.