FIRST AIRED: January 23, 2017

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Transcript

00:00:01
>> British Prime Minister Theresa May arriving in Cheshire to unveil a long awaited plan for the post-Brexit era. At her first regional cabinet meeting, May delivered the details of a new interventionist approach to drive an industrial revival. She says the government will have an active role in backing business.
00:00:19
And ensuring more people in all corners of the country share in the benefits of its success. Reuters UK Political Correspondent William James says it's about trying to rebalance the British economy.>> And Theresa May is trying to use this industrial strategy to build up things like manufacturing, high tech manufacturing in particular.
00:00:37
Not at the expense of the financial services sector but to make it a more balanced economy. And that will help it, whether the trouble is likely to come from Brexit.>> The ten-point modern industrial strategy proposes investing in science research and innovation, developing skills, upgrading infrastructure, and supporting businesses to start and grow.
00:00:59
Politically, it's May's attempt to re-engage with working class voters in parts of the country that perhaps feel left behind. She'll be asking firms to collaborate with each other and come up with ideas for what they can offer the government.>> And in return, the government will do things like help them with regulation, it might help with access to funding, research and development spending.
00:01:18
So it's an idea that is actually slightly at odds with the conservative ideology of free markets and let them do their own thing. This is a more hands-on approach that Theresa May is championing.>> Industry now asked to have its say on the proposals. The first stage in a very long consultation.