Question

To ask the Secretary of State for Business, Innovation and Skills, with reference to paragraph 8.3 of the document Fixing the foundations: creating a more prosperous nation, what areas and markets are of strategic importance and potential to the UK economy; and if he will make a statement.

The Department for Business, Innovation and Skills works with its partners to ensure investments are directed to areas in which the UK excels and has potential to excel. UK Trade and Investment helps identify foreign markets of strategic importance. Innovate UK and the Catapult Centres work to commercialise new and emerging technologies in areas where there are significant global market opportunities and a critical mass of UK capability. Through the recently announced Science and Innovation Audits, the Government will work with universities, cities, Local Enterprise Partnerships and businesses to map strengths and identify potential areas of strategic focus for different areas.