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BEIS Select Committee issues first Industrial Strategy report

BEIS Select Committee issues first Industrial Strategy report

3rd March 2017

In their first report on the Government's Industrial Strategy - the Buisness, Energy and Industrial Strategy Select Committee calls for a "mission-based" appoach.

The Industrial Strategy needs to be a much greater step-change in policy, looking at skills and innovation as well as sectors. 

The Government’s re-found commitment to industrial strategy provides a significantopportunity to set a clear vision for what an “economy that works for everyone” should look like in practice, and put the UK on a path to reach it. We strongly support thePrime Minister’s aspiration of a stronger, fairer Britain “where wealth and opportunityare spread across every community.”

- Industrial Strategy: First Review, BEIS Select Committee

We recommend that the Government reconsider giving sectoral strategies priority and instead focus on horizontal policies and specific ‘missions’ to meet UK-wide and local public policy challenges. This will make clear that the function of the Government’s industrial strategy–and of industry itself–is to solve societal problems and it will provide a clear focus for activity across Government and industry.

- Industrial Strategy: First Review, BEIS Select Committee

On Brexit manufacturing and exporting: which will be further discussed at our Exporting after Brexit panel discussion this Tuesday -

Another area where further clarity is needed is on the relationship between the Government’s industrial strategy and its negotiating priorities for leaving the European Union. As Lord Mandelson told us, “Brexit is the elephant in the room in all our discussions about industrial strategy”.113 A number of submissions to our inquiry both highlighted the opportunities and challenges posed, most frequently in relation to concerns over the future of free movement.114 Some commentators have also suggested that negotiations over trade deals could pose challenges for domestic economic and social priorities.

- Industrial Strategy: First Review, p29, BEIS Select Committee - see more conclusions here.

On industry engagement:

We agree with the Secretary of State that the industrial strategy must be developed collaboratively with industry but in doing so, the Government must engage widely and not fall prey to group-think or “capture” and must be clear and transparent about the purpose of its engagement.

- Industrial Strategy: First Review, p31, BEIS Select Committee - see more conclusions here.