Policy Watch October
New Industrial Strategy
The future of British industry is being shaped with the first new industrial strategy in seven years, hoping to attract investors to the UK and boost economic growth. The strategy focuses on eight key sectors where the growth is sustainable, resilient and distributed across the country. The eight sectors in question are; advanced manufacturing, clean energy industries, creative industries, defence, digital and technologies, financial services, life sciences and professional and business services. A new supply chains taskforce in government will also be established to increase business security and resilience, building the conditions that can ensure growth. A green paper was published Monday 14 October, where businesses, unions, investors and other stakeholders across the UK have until 24 November to give their input on the continued development of the industrial strategy.
Deforestation Regulation Postponed
The EU Deforestation Regulation, which aims to ensure that certain commodities sold or exported from the EU are deforestation-free, is being delayed by 12 months to allow more time for compliance. The regulation, adopted in 2023 and originally set to be enforced by December 2024, will now apply from December 2025 for large companies and June 2026 for SMEs. This extension will give member states, third countries, and businesses more time to implement due diligence systems that monitor supply chains and prove compliance. The delay has been proposed by the EU Commission and accepted by the Council, and once the European Parliament approves it, the postponement will be officially confirmed.
