By Joanne Davidson
Crucially, the strategy shows signs of a renewed partnership between government and business. From tackling sky-high electricity costs for power-intensive industries to unlocking access to finance, fast-tracking skills development and reducing regulatory burdens 鈥 this is a plan that speaks to many of the core concerns of businesses across the UK. The focus on high-growth sectors 鈥 including clean energy, advanced manufacturing, life sciences, digital technology, finance and professional services 鈥 aligns strongly with our own regional strengths. Our Economic Call to Action, launched last year, spotlighted five key growth areas: technology, fintech and financial services, health and life sciences, the green economy, and creative industries. These sectors are now clearly reflected in the national plan. We’re also encouraged by the commitment to boost R&D investment 鈥 particularly relevant to Edinburgh, with our globally recognised university base and the recent announcement that the UK鈥檚 拢800 million exascale supercomputer will be located here. That investment will put Edinburgh at the forefront of the UK鈥檚 scientific and innovation ambitions. This week also saw the launch of the UK Government鈥檚 new Trade Strategy, unveiled by the Prime Minister at the British Chambers of Commerce Global Annual Conference. It is a strong endorsement of the Chamber network鈥檚 influence with 24 of the 29 recommendations we submitted during consultation fully or partially adopted. The strategy provides a much-needed spotlight on services, which account for over 80 per cent of UK output. It also includes commitments to expand UK Export Finance, secure digital trade deals, and pursue mutual recognition of qualifications across key sectors such as finance, engineering, law, and technology. These were also central to the Economic Powerhouses policy paper recently published by the Edinburgh and London Chambers. For Edinburgh, where services drive much of the region鈥檚 international success, this is not just welcome 鈥 it鈥檚 vital. While we applaud the ambition behind both the Industrial and Trade Strategies, we must be clear: success hinges on execution. We need delivery plans that flow through to businesses on the ground, particularly SMEs, and investment that reaches our infrastructure, talent and innovation pipelines. Also at our conference last week, the Prime Minister made an important point: 鈥淲e鈥檝e stabilised the economy鈥 now we have to back you to the hilt, because your members are the engines of growth in every community across the United Kingdom.鈥 Edinburgh Chamber agrees. Now is the time to turn words into action. But delivery cannot happen if the burden on business continues to rise. We echo the British Chamber network鈥檚 call for no further increases in taxation or regulation. Our recent survey of 600 firms shows nearly a third have already made, or are planning, redundancies due to the rise in employer National Insurance contributions. That trend must be reversed if we are to drive sustainable growth. The Industrial and Trade Strategies represent an inflection point 鈥 a chance to realign the UK economy for long-term competitiveness and inclusive growth. Edinburgh, as one of the country鈥檚 leading economic centres, stands ready to lead in this next chapter. But strategy alone won鈥檛 move the dial. Delivery, consistency, and trust between government and business are now essential. The Chamber network is ready to play its part. It鈥檚 time to build. Joanne Davidson is Director of Policy, Edinburgh Chamber of Commerce