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<p>In March 2021, the Government decided that the Industrial Strategy Council would
no longer be needed to monitor the impact of the Industrial Strategy, following its
transition to the then Plan for Growth.</p><p> </p><p>Delivering economic growth in
key sectors remains a priority. The Chancellor has identified five key growth sectors
for the UK: Digital Technology, Green Industries, Life Sciences, Advanced Manufacturing
and Creative Industries. The government has announced a £500 million per year package
of support for 20,000 research and development (R&D) intensive businesses through
changes to R&D tax credits, alongside 12 new investment zones. Earlier this month,
the Department for Business and Trade announced regulatory measures that will reduce
burdensome red tape and tailor rules to suit the UK economy, potentially saving employers
around £1 billion yearly.</p>
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