The government’s plan to boost UK industry ahead of the country leaving the EU is due to be launched later.
The industrial strategy is aimed at lifting growth, which official forecasts suggest will slow due to the UK’s poor productivity performance.
Business Secretary Greg Clark said the UK’s decision to leave the EU meant the strategy was “even more important”.
A deal with US healthcare giant MSD to open a UK research centre has been announced as part of the strategy.
The investment by MSD, known as Merck in the US, is worth up to £1bn and is expected to create 950 jobs.
The government said the announcement was “a huge vote of confidence” in its plans to boost the post-Brexit UK economy.
The strategy comes just days after official forecasting body the Office for Budget Responsibility (OBR) announced an aggressive downgrade of its UK growth and productivity forecasts.
Political parties and business groups have said that the solution to creating stronger growth and higher wages is more investment.
The industrial strategy is expected to outline similar partnerships to the MSD one with other private sector firms in the construction, artificial intelligence and automotive sectors.
The deals will see the government pledge funding and policy collaboration in exchange for investment from private firms.- BBC
