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The government is set to place investment in digital infrastructure at the heart of its new industrial strategy.

A wave of investment in transport, broadband and energy is to be announced by Prime Minister Theresa May later today (January 23rd).

The new industrial strategy will also focus on areas including research and development, boosting skills, supporting business start-ups and driving affordable energy and clean growth.

Mrs May hopes this tranche of investment will help Britain build on its existing strengths and tackle its underlying weaknesses.

This, she believes, will help to secure its future as a competitive, global nation, which could be vital as the UK seeks to build new trade links with other countries post-Brexit.

"The Modern Industrial Strategy will back Britain for the long term: creating the conditions where successful businesses can emerge and grow, and backing them to invest in the long-term future of our country," Mrs May commented.

"It will be underpinned by a new approach to government, not just stepping back but stepping up to a new, active role that backs business and ensures more people in all corners of the country share in the benefits of its success."

Business and Energy Secretary Greg Clark added that the government's "modern" and "dynamic" industrial strategy will improve living standards and drive economic growth across the whole country.

He said the aim of the strategy is to close the gap between the most productive sectors, businesses, places and people and those that are lagging behind.

Mr Clark stated that this will help to ensure the UK is one of the most competitive places in the world in which to start and grow a business.

This comes after Chancellor of the Exchequer Philip Hammond confirmed in his Autumn Statement that £400 million is to be put towards improving the UK's fibre broadband infrastructure.

The money will be placed in a Digital Infrastructure Investment Fund, with cash shared between fibre broadband providers seeking to expand, while private investors will be asked to match the amount put forward by the government.

A further £740 million will be put towards developing 5G services and a scheme that enables local authorities to bid for fibre connectivity.

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