Without a proper industrial strategy, business in Bolton and Britain will never prosper

The challenges facing the British economy could not be starker; we have a cost-of-living crisis and energy prices are crippling so many households and businesses across our borough. The Autumn Statement failed to grasp the seriousness of the situation we face – the Chancellor and Government have their heads in the sand.

There is so much potential in businesses in Bolton and Britain, yet too many are facing a Tory economic and financial crisis which is holding us back – so many are unable to make investment decisions with any kind of security.

Above all, we lack a coherent industrial strategy which could foster an environment for business to flourish, and it is damaging businesses and our economic output.

I recently visited Booth Industries; a company based in my constituency of Bolton South East which is providing the tunnelling doors for the High Speed 2 rail project. I saw first-hand the work the company does to support large infrastructure projects and how it is contributing to our local economy – providing over 150 jobs in Bolton.

Businesses like Booth Industries are, with no exaggeration, the backbone of our economy. Small and medium sized companies in Britain contribute 52 per cent to our national turnover and make up 99.9 per cent of all businesses.

These businesses need not just direct government support, but they need an industrial strategy which helps them prosper. The Government is asleep at the wheel on this, and it is only Labour which is providing the leadership we need.

Labour’s Green Prosperity Plan alongside the “make, buy and sell in Britain” policy will support businesses like Booth Industries a hundred times over. By investing in infrastructure, new solar power, offshore wind, nuclear, and public transport, coupled with a British supply chain, Labour will give the economy the jumpstart it needs, as it remains on life support under the Tories.

We’d give companies like Booth Industries a hook into our national economy – a route to economic growth and an opportunity to invest, creating the green jobs of the future and growing our local economy.

Labour would build a more resilient economy, using the opportunity provided by the environment to support business innovations, deliver clean power by 2030, and care for the future – the responsibility of any Government.