Whitehall will not pick winners and losers under my watch. Instead, we will liberate freeports to maximize our post-Brexit opportunity to lead the world in key industries such as AI, quantum energy and hydrogen. These fat-rich freeports will be world-class engines of growth.
People and businesses know how to spend their money better than any government. We cannot continue with the highest tax burden in 70 years, which risks stifling innovation and investment. I would break decisively with this by scrapping the planned rise in corporation tax to show that Britain remains open for business.
My economic plan will help ignite the spark for a new industrial revolution and make our economy a benchmark for the rest of the world. My investment zones will rejuvenate the territories in the same way that London’s Docklands have been regenerated, with new jobs in the industries of the future.
I don’t believe in controlled decline. My plan is positive and forward-looking. It is designed to transform our economy into a high-growth, highly-productive powerhouse by cementing its status as the best place in the world to invest. At the same time, it will ensure that the private sector grows faster than the state, as we keep tight control over public spending.
This is where our future lies. I have a clear vision and the determination and experience to make it happen. As Trade Secretary, I helped secure major deals such as Nissan’s £1 investment to expand its Sunderland plant and create a hub for electric cars. I rolled out the red carpet to the world’s biggest investors for a special summit, where they pledged nearly £10bn in a move that will create 30,000 new jobs. As Minister of Foreign Affairs, I have deepened our economic and security ties with our friends around the world.