Post-Brexit Economy Plan of UK to be Launch

The plan of the government in expanding the British industry prior the EU exit is scheduled to be launched later. According to official forecasts, the purpose of the industrial strategy is to revised growth which has the tendency to slow down because of UK’s low economic performance. As mentioned by Greg Clark, Secretary of State for Business, Energy and Industrial Strategy, Brexit indicates that the strategy could be considered as "even more important".

Moreover, an agreement with the MSD (Merck Sharp & Dohme) to start a  UK research centre is included in the strategy. The investment cost more than £1bn with an expectation to generate 950 jobs. Based on the government’s announcement, there was a significant vote of confidence within the strategy in boosting the UK economic performance after the EU exit.

The launch of the strategy followed some days after the Office for Budget Responsibility (OBR) reported about the productivity outlook and the aggressive reduction of growth in Britain. While political allies and corporate groups believe that the solution is to acquire improved productivity and higher compensation is regarded as greater investments.