Call for evidence: the modern Industrial Strategy
IOM3 calls for input into the Government's Industrial Strategy to support economic growth and carbon reduction.
The Select Committee on Business and Trade has launched an inquiry into the Government’s new Industrial Strategy. This is the first inquiry in a programme of work that will scrutinise the design and delivery of the strategy over this Parliament. The inquiry will be used to develop criteria to assess the Government’s progress going forward.
The new Industrial Strategy aims to support the Government’s ambitions to become the fastest-growing country in the G7, raise living standards across the country and forge a new style of partnership with businesses and unions. Eight growth-driving sectors have been identified as priorities within the strategy; advanced manufacturing, clean energy industries, creative industries, defence, digital and technologies, financial services, life sciences, and professional and business services. You can read more about the industrial strategy on the UK government website.
The Business and Trade Committee is inviting inputs on the following questions:
- What Industrial Strategy will maximise economic growth and good jobs across the UK? How does the Government’s plan measure up to this?
- What Industrial Strategy is required to deliver the Government’s carbon reduction targets set out at COP29, de-risk the economy from geo-political threats and close regional gaps in growth?
- Is the Government’s focus on sectoral growth beneficial? If so, has the Government prioritised the right sectors?
- How should the Government approach economic sectors which have not been prioritised, including the foundational industries and supply chains that the growth-driving sectors depend on?
- What is the right balance between investment in ‘horizontal’ policy, such as skills, infrastructure and transport, and sector-specific investment?
- What duties, powers and resources does the Industrial Strategy Council need to effectively oversee the Industrial Strategy?
Read the Committee’s full call for evidence
If you would like to contribute to an IOM3 response, please get in touch with Aoife Burke at [email protected] by Monday 17 February.
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