June wrapped up – read all about it

One month. Two major strategies. Ten years’ worth of clarity for businesses.

They’re here: the UK’s Modern Industrial Strategy and the UK’s Trade Strategy. The first launched at HORIBA MIRA , with the Prime Minister and Chancellor Rachel Reeves joining the business and trade secretary Jonathan Reynolds MP to speak with workers and business leaders about what the Strategy means for businesses like theirs. The second was a key talking point at the annual British Chambers of Commerce conference in London, bringing together hundreds of business leaders to learn more about it.

The UK’s Modern Industrial Strategy 

The headline? More than 7,000 businesses set to see their electricity bills slashed by up to 25% from 2027, thanks to the British Industrial Competitiveness Scheme, which will work for energy-intensive businesses in manufacturing sectors like automotive, aerospace and chemicals. The government is also increasing support for the most energy-intensive firms by covering more of the electricity network charges they normally have to pay through the British Industry Supercharger.  

But that’s just the very surface of what the strategy is about. It’s a 10-year plan to promote business investment and growth and make it quicker, easier and cheaper to do business in the UK. With a primary focus on eight growth-driving sectors, the Strategy also involves: 

• Unlocking finance for innovative businesses, especially SMEs, by increasing British Business Bank financial capacity to £25.6bn. 
• Upskilling the nation with an extra £1.2bn each year for skills by 2028-29, and delivering more opportunities to learn and earn. 
• Reducing regulatory burdens by cutting the admin costs of regulation for businesses by 25%.
• Boosting R&D spending to £22.6bn a year by 2029-30 to drive innovation across the growth-driving sectors, which will also leverage billions more from private investors. 
• Attracting global talent through visa and migration reforms and the new Global Talent Taskforce. 
• Reducing planning timelines and cutting costs for developers, by hiring more planners and streamlining pre-application requirements. 

Want the full details? Read the Strategy here. 

The UK’s Trade Strategy 

Meanwhile, the government’s Trade Strategy also has growth at its heart. It sets out how the UK will unlock £5bn for businesses and expand UK Export Finance capacity to £80bn, delivering growth as part of the Plan for Change. It will make the UK the most connected nation in the world through a more agile and targeted approach that focuses on quicker, more practical deals that deliver faster benefits to businesses. To celebrate, the business and trade secretary headed to Sound Leisure in Leeds to meet just one of the UK's many great exporters.

In a nutshell the Trade Strategy will: 

• Unlock billions of pounds worth of opportunities for UK Exporters through the new Ricardo Fund, which will tackle complex regulatory issues.
• Expand UKEF’s capacity by £20bn and give smaller firms better access to export protection through a new Small Export Builder.
• Bolster our trade defence toolkit and make our trade remedies system more agile and assertive.
• Target more mutual recognition of qualifications to boost the UK’s status as a services superpower.
• Build on existing clean energy and green sector agreements with multiple partners.
• See the UK join the Multi-Party Interim Appeal Arbitration Arrangement (MPIA), a temporary arbitration arrangement for resolving appeals to WTO trade disputes. 

Of course, the Strategy follows the three significant trade deals agreed last month, with the India, the US and the EU, which will bring huge benefits for UK businesses and consumers. Alongside the Industrial Strategy, we are strengthening businesses at home and setting clear direction to ensure success abroad and create high-paid, secure jobs in every part of the country. As the Prime Minister said: “What works for businesses, works for Britain. It means more jobs, more opportunities, and more money in people’s pockets.” 

Other June wins 

You might be forgiven for thinking the launch of two comprehensive, long-term strategies was the only thing we accomplished in June. Far from it! Here’s what else went on: 

🤖 UK companies showcased their innovations from cutting-edge AI to immersive tech and creative experiences at UK House at SXSW London , which came to London for the first time ever. 

🇪🇺 The business and trade secretary headed to Paris and Brussels, to join G7 and WTO ministerial meetings, where he delivered his message that the UK is a country others can count on in uncertain times. He also spoke at the Economic Security Forum where he set out the importance of close partnerships with our neighbours to increase resilience and strength. 

📲 London Tech Week kicked off, showcasing 60 incredibly UK companies and welcoming 1,500+ internationals delegates, who hosted immersive experiences to showcase and spotlight the UK’s global tech edge. 

💷 We launched the all new Office for Investment, a joint unit between the Department for Business and Trade, No.10, and HM Treasury. The unit is here to source and secure the kinds of investments that make a real difference, with a laser focus on providing commercial support and tailored opportunities.

👩💻 The Prime Minister launched TechFirst, a new £187m programme that will bring AI and digital skills into classrooms, careers and communities, unlocking opportunity across the UK. 

💳 At the Spending Review we saw several measures for businesses announced, including more than £3bn R&D funding over the next four years for the advanced manufacturing sector, to secure the supply chain of zero emission vehicles, batteries and ultra-low and zero-carbon emission aircraft. 

🛬 £250m of combined industry and government funding was secured for cutting-edge aerospace tech, to drive forward the development of technologies of the future. 

🇧🇭 We signed a new deal, the Strategic Investment and Collaboration Partnership, with Bahrain that will unlock £2bn of investment into Britain – boosting growth and creating jobs across the UK.

🛍️ We announced the new Small Business Commissioner, Emma Jones CBE, who will play a leading part in tackling late payments and unfair payment practices for the UK’s incredible small businesses.

👩🔬 We announced the Global Talent Taskforce and Global Talent Fund to attract the world’s brightest minds in science, tech and innovation to the UK, with £54m in fresh funding. 

📦 Amazon announced a landmark £40bn investment over the next three years, set to create thousands of UK-wide jobs. The investment includes building four new fulfilment centres nationwide as well as upgrades and expansions to its existing network. 

🇺🇸 Finally, to round off the month with some more good news: Key aspects of the UK-US trade deal came into force today, slashing US export tariffs for the UK’s automotive and aerospace sectors. UK car manufacturers can now exported to the US under a reduced 10% tariff quota, saving hundreds of millions of pounds annually, and the UK aerospace sector saw 10% tariffs on goods like engine and aircraft parts removed today, and a commitment to maintain them at 0%. 

The TLDR? It’s been an incredible month. Now the work continues, to implement our strategies, get more business exporting, up-skill the next generation of innovators, cut down red tape and to make the UK the best place in the world to do business. Bring it on.