Chancellor of the Exchequer Rachel Reeves has announced that a new Industrial Strategy will be published in Spring 2025.
The Government says it will focus on delivering long-term change by breaking down barriers to regional growth and building a secure and resilient economy.
A green paper will be published later this month outlining the long-term sectoral growth and priority industries, ahead of the final strategy which will be published following a consultation with business.
The Chancellor also outlined a package of reforms to improve the UK’s tax system to help fix the foundations of the UK economy.
As part of the package, HMRC will launch a consultation on electronic invoicing (e-invoicing) to promote its wider use across UK businesses and government departments.
The introduction of e-invoicing has the potential to significantly reduce administrative tasks, improve cash flow, boost productivity, introduce automation, and reduce errors in tax returns.
The consultation will gather input from businesses on how HMRC can support investment in and encourage e-invoicing uptake.
