More than 50 companies name for subsequent PM to urgently draw up industrial technique

More than 50 companies and groups have called for the next government to urgently draw up a proper industrial strategy, so Britain can catch up with international rivals.

Research by the Society of Chemical Industry (SCI) found groups as diverse as PwC, Airbus, the Trades Union Council and Greenpeace had all made similar demands in recent months for a thought out plan to create better jobs and increase productivity. And SCI chief exec Sharon Todd said a comprehensive strategy should be enshrined in law, and included in the king’s speech.

“We are dramatically falling behind our international rivals on economic growth because of the lack of a strategy,” she said. “The next government – of whatever hue – must acknowledge that urgency and make sure industrial strategy is in the King’s Speech next month, placing it on a statutory footing.”

Labour has promised a “joined up” industrial strategy if the party wins next month’s election. The party’s manifesto reads: “We will work in partnership with industry to seize opportunities and remove barriers to growth.

“Critically, we will end short-term economic policy making with the establishment of an Industrial Strategy Council, on a statutory footing, to provide expert advice. We will ensure representation on the Council from all nations and regions, business and trade unions, to drive economic growth in all parts of the country.”

In November, SCI published a “manifesto for an industrial science and innovation strategy” to “drive up the productivity of our workforce in all parts of Britain. The blueprint was backed by three former Business Secretaries – Labour’s Lord Mandelson, Lib Dem Vince Cable and Tory Greg Clark.