Gus Williams, interim CEO at Chambers Wales South East, South West and Mid, said:

“The first release of the Industrial Strategy hits the right notes and reflects many of the issues we have raised with government through Chambers Wales South East, South West and Mid and the British Chambers of Commerce.

“Although overall productivity in Wales doesn’t look to have improved over the past decade, in manufacturing it is a very different story where there have been significant improvements in productivity, so it is good to see this being recognised. Support for the advanced manufacturing sector is positive news.

“The high cost of energy for large commercial users is also recognised as something that severely hampers our competitiveness, and we have lobbied hard for this to be seriously addressed, so it is good to see this at the forefront of government announcements this morning. Support for the renewable and defence sectors should also have a positive impact in Wales, along with the life sciences and creative industries where Wales has some fantastic businesses.

“The initial release also recognises issues with skills, particularly in construction which is a huge bottleneck to getting things built here in Wales and solving housing issues. At the Chamber we work closely with both the UK and Welsh Governments on international trade so again it is good to see ongoing support for exporters to grow their businesses.

“The beginnings of a long-term coherent approach to supporting business is something we have sorely missed so it is good to see the initial steps being taken and we look forward to working with the UK and Welsh Governments to make further progress on these issues.”

Shevaun Haviland, Director General of the British Chambers of Commerce, said:

“Today’s Industrial Strategy is an important milestone towards creating a competitive economy that is fit for the future, with thriving businesses in every region of the UK.

“From start-ups and SMEs to large corporates, firms need a stable environment that enables faster, easier and more certain investment decisions. This strategy is a welcome blueprint for policymakers and business to achieve this.

“Firms have sounded the alarm about uncompetitive energy bills for years. This is welcome support for electricity-intensive businesses that will ease long-term cost pressures.

“Access to a skilled workforce is vital to growth. Employers called for a more flexible Growth and Skills Levy and will be relieved that they can access shorter courses to upskill people in work from next April.

“Plans to improve access to finance – a major barrier for many SMEs – will enable more firms to start, scale and grow.

“We were pleased to convene business and Government across our Chamber network in recent months. Much of what we shared with policymakers, has been heard and reflected in this strategy. There’s more to do and we are ready to support the next steps.

“We encourage businesses to get behind this strategy and champion the UK as the best place to live, work, invest, and do business.”