U.K. Prime Minister Theresa May outlined her vision for Britain's industrial future Monday, while the leader of the U.K.'s opposition Labour party also set out his proposals for "big changes" to the country's economy.
Both the prime minister and Labour leader Jeremy Corybn gave speeches at a Confederation of British Industry (CBI) conference in London. Conservative leader May defended the free market economy and said there are "huge opportunities" in Britain over the next decade.
"We cannot — and will not try — to make a plan for every corner of our economy. We believe in the free market and won't attempt to shield the economy from market forces. So we will have to make strategic decisions about where the government can — and where it cannot — best support key sectors of our economy," she said.
"As we look ahead to the next 10 years for Britain's economy, we should do so as rational optimists." She gave more details on her government's "industrial strategy," which includes plans to boost investment in skills and infrastructure.
The speech to the CBI conference was closely watched by business leaders who want to know how the government will manage Britain's economic transition out of the European Union.