The PM begins unpicking Osbornomics, making clear the Northern Powerhouse and China are not top of her agenda, says Beth Rigby.
By Beth Rigby, Senior Political Correspondent
By Beth Rigby, Senior Political Correspondent
Theresa
May has said giving Britain a pay rise is at the heart of her
government's ambition, as she chaired a new committee to set out
industrial strategy.
Ten cabinet ministers met with the PM in Downing
Street to begin developing a "proper industrial strategy" aimed at
"rewarding hard working people with higher wages".
The prime minister was clear that her industrial strategy will ensure the benefits of growth are shared "across the cities and regions up and down the country" - not just the north of England.
:: PM Holds Brexit Meeting To Get Economy Firing
Putting clear blue water between herself and the old regime, Mrs May's remarks suggest that George Osborne's beloved "Northern Powerhouse" project to rejuvenate cities such as Manchester, Sheffield and Leeds, is not high on her agenda.
It is another sign that Mrs May is unpicking her predecessor's economic legacy: last week her government announced a review of the £18bn Hinkley Point nuclear power plant project, a deal which had been the centrepiece of David Cameron's desire to bring about a "golden era" of China-UK ties.
The government will decide whether to allow the Chinese to invest £6bn in the power plant in the autumn.
But expect the deal was thought to have been on the agenda amid concerns that cancelling the project could jeopardise more than £100bn of investment in Britain over the next decade.
:: China Urges HInkley Power Plant Go Ahead
Chinese investment is crucial to other infrastructure projects: Mr Osborne launched the £11.8bn procurement process for the high speed rail line between London and Manchester - HS2 - in China last September.
Speaking on Radio 4's the World At One Labour Mayor of Liverpool Joe Anderson said: "There's a lot of uncertainty now.
"We've got a new Northern Powerhouse Minister (Andrew Percy) and now we're hearing the new Northern Powerhouse is not going to be supported by Theresa May.
"I want some clarity around exactly what is this industrial strategy."
Lord O'Neill, chief secretary to the Treasury and key architect behind the previous government's attempts to attract Chinese investment into the UK, has threatened to resign over Mrs May's new approach to China - a resignation that No 10 is keen to avoid.
Mrs May chaired the meeting, alongside her new Chancellor Philip Hammond and a clutch of key ministers including Greg Clark, the business and energy secretary, Damian Green, the work and pensions secretary, Sajid Javid, the local government and communities secretary, and Chris Grayling from transport.
The new collective approach to drawing up an industrial strategy is a far cry from the previous regime, where economic decision making was concentrated in the hands of the once all-powerful chancellor Mr Osborne.
The prime minister was clear that her industrial strategy will ensure the benefits of growth are shared "across the cities and regions up and down the country" - not just the north of England.
:: PM Holds Brexit Meeting To Get Economy Firing
Putting clear blue water between herself and the old regime, Mrs May's remarks suggest that George Osborne's beloved "Northern Powerhouse" project to rejuvenate cities such as Manchester, Sheffield and Leeds, is not high on her agenda.
It is another sign that Mrs May is unpicking her predecessor's economic legacy: last week her government announced a review of the £18bn Hinkley Point nuclear power plant project, a deal which had been the centrepiece of David Cameron's desire to bring about a "golden era" of China-UK ties.
David Cameron and Xi Jinping at The Plough pub near Chequers
But expect the deal was thought to have been on the agenda amid concerns that cancelling the project could jeopardise more than £100bn of investment in Britain over the next decade.
:: China Urges HInkley Power Plant Go Ahead
Chinese investment is crucial to other infrastructure projects: Mr Osborne launched the £11.8bn procurement process for the high speed rail line between London and Manchester - HS2 - in China last September.
Speaking on Radio 4's the World At One Labour Mayor of Liverpool Joe Anderson said: "There's a lot of uncertainty now.
"We've got a new Northern Powerhouse Minister (Andrew Percy) and now we're hearing the new Northern Powerhouse is not going to be supported by Theresa May.
"I want some clarity around exactly what is this industrial strategy."
Lord O'Neill, chief secretary to the Treasury and key architect behind the previous government's attempts to attract Chinese investment into the UK, has threatened to resign over Mrs May's new approach to China - a resignation that No 10 is keen to avoid.
Mrs May chaired the meeting, alongside her new Chancellor Philip Hammond and a clutch of key ministers including Greg Clark, the business and energy secretary, Damian Green, the work and pensions secretary, Sajid Javid, the local government and communities secretary, and Chris Grayling from transport.
The new collective approach to drawing up an industrial strategy is a far cry from the previous regime, where economic decision making was concentrated in the hands of the once all-powerful chancellor Mr Osborne.
No comments:
Post a Comment