Treasury names experts who will steer high growth strategy
The Treasury has named five experts who will join Sir Patrick Vallance during the EU regulatory review in high-growth sectors, as part of Jeremy Hunt’s plan to “turn Britain into a Valley of the Sea”. The World’s Next Silicon”.
In his November Autumn Statement, the prime minister announced that by the end of 2023, the government would “decision and announcement“changes EU regulations related to five key industries: digital technology, green industry, life sciences financial services and advanced manufacturing.
Sir Patrick, the government’s chief scientific adviser and national technology adviser, will review existing legislation and advise on regulatory reform to spur growth.
Tech entrepreneurs Priya Lakhani and Matt Clifford will direct the work on digital technology. Lakhani is the founding CEO of Century Tech, an artificial intelligence company, and a member of the government’s AI Council. Clifford is chairman of the New Advanced Research and Patent Office, an organization that aims to promote UK research and development.
Immunologist Sir John Bell will focus on driving growth in the life sciences sector alongside Camilla Fleetcroft, vice president of clinical and regulatory affairs at Eclevar, a research organization contract.
Jane Toogood, co-chair of the government’s Hydrogen Advisory Council will lead green industries.
Hunt said he wants British companies to lead the world in turning great science into new products and services. “We need to make sure that the government is doing everything it can to encourage innovation and competition.”
“We have outlined how to support our formidable financial services sector to unlock private investment in new industries, and we will demonstrate similar ambition in other high growth areas. to ensure that future Silicon Valleys are all based in the UK.”
This view is echoed by business secretary Grant Shapps, who said economic growth and increased productivity will be crucial to improving living standards across the UK.
“Backed by this passionate new team of advisors, Sir Patrick Vallance will lead the industry to drive growth in some of the world’s most exciting emerging technologies, transforming the Kingdom’s natural strengths The UK has become a pillar of long-term growth,” he said.
The government has begun working to loosen regulation of the financial sector. Earlier this month, it revealed the so-called The Edinburgh Reforma package to repeal and replace EU laws relating to financial services and relax some of the regulations introduced after the 2008 global financial crisis.