Post-pandemic economic growth: Industrial Strategy

Business and Trade Committee Closed Inquiry
Opened: 23 Jul 2020 Closed: 27 Sep 2021 Parliament page
In our inquiry into Post-pandemic economic growth: Industrial strategy we will look at the options available to Government to secure our economic recovery from the impact of the coronavirus pandemic. We will want to examine whether the Government’s current industrial strategy is fit for purpose, whether it is genuinely strategic, … Read more
19 Recommendations
25 Conclusions
1 Report
5 Oral sessions
2 Letters
8 Events
Activity timeline 12 events
24 Sep
2021
Report published
28 Jun
2021
Report published
11 Mar
2021
Correspondence
4 Mar
2021
Correspondence
2 Mar
2021
Oral evidence
26 Jan
2021
Oral evidence
14 Jan
2021
Informal meeting · Virtual Meeting
15 Dec
2020
Oral evidence
10 Dec
2020
Informal meeting · Virtual Meeting
19 Nov
2020
Informal meeting · Virtual meeting
8 Oct
2020
Oral evidence
24 Sep
2020
Oral evidence
Oral evidence sessions 5 sessions
2 Mar 2021
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Post
Andy Haldane · Industrial Strategy Council Charlie Mayfield · Industrial Strategy Council Dame Kate Barker CBE · Industrial Strategy Council Professor Dame Nancy Rothwell · Industrial Strategy Council
26 Jan 2021
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Oral evidence session; Oral evidence
Amanda Solloway · Department for Business, Energy and Industrial Strategy Dame Ottoline Leyser · UK Research and Innovation Dick Elsy CBE · High Value Manufacturing Catapult Dr David Connell · Centre for Business Research, University of Cambridge Dr Jeremy Silver · Digital Catapult Jessica Skilbeck · Department for Business, Energy and Industrial Strategy Mike Biddle · Innovate UK Professor Chris Day · University of Newcastle
15 Dec 2020
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Panel 1
Catherine Lewis La Torre · British Business Bank Irene Graham · ScaleUp Institute James Wise · Balderton Capital
8 Oct 2020
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Opportunities for growth
Anthony Walker · Tech UK Gareth Stace · UK Steel Guy Newey · Energy Systems Catapult Mike Hawes · Society of Motor Manufacturers and Traders Nick Owen · Professional and Business Services Council Paul Everitt · ADS Group Paul Everitt · ADS Peter Ellingworth · Association of British HealthTech Industries Stephen Phipson CBE · Make UK
24 Sep 2020
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Post-pandemic economic growth: Industrial Strategy
Dr Anna Valero · LSE Kate Bell · Trades Union Congress (TUC) Rain Newton-Smith · Confederation of British Industry Rain Newton-Smith · Confederation of British Industry (CBI) Rt Hon Greg Clark · House of Commons Science and Technology Committee
Title HC No. Published Items Response
First Report - Post-pandemic economic growth: Industrial policy … HC 385 28 Jun 2021 44 Responded
Recommendations & Conclusions
13 results
Clear
2 Recommendation Accepted
First Report - Post-pandemic econo…
The Government now has an opportunity via its Plan for Growth to deliver a more...
The Government now has an opportunity via its Plan for Growth to deliver a more narrow and focused set of polices than the 142 that emerged from the 2017 strategy. We note that the Industrial Strategy Council’s analysis suggests the … Read more
Government Response
The government refers to its published 'Build Back Better: our plan for growth' and outlines existing strategies and investments in infrastructure, skills, and innovation, stating these deliver its strategic objectives rather than committing to further refining or new metric publication.
Department for Business and Trade
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4 Recommendation Accepted
First Report - Post-pandemic econo…
Whether labelled Industrial Strategy or Plan for Growth, industrial policy in the UK will require...
Whether labelled Industrial Strategy or Plan for Growth, industrial policy in the UK will require scale and a long-term commitment from Government to be successful. In response to this report the Government should set out: • How it will improve … Read more
Government Response
The government states its approach to industrial policy is set out in "Build Back Better: our plan for growth" and other related strategies, detailing its plans for infrastructure, skills, and innovation, rather than committing to a new statement addressing the specific questions posed.
Department for Business and Trade
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5 Conclusion Accepted
First Report - Post-pandemic econo…
Abolition of the Industrial Strategy Council suggests that the Government’s commitment to coordinated industrial policy...
Abolition of the Industrial Strategy Council suggests that the Government’s commitment to coordinated industrial policy that can withstand and benefit from independent scrutiny has waned. The Council’s abolition risks expanding the gap between Government and the industries that must deliver … Read more
Government Response
The government details its 'Build Back Better: our plan for growth,' outlining significant investments in infrastructure, skills, and innovation, alongside initiatives like the Advanced Research & Invention Agency and an Innovation Strategy, as its comprehensive approach to economic growth and productivity.
Department for Business and Trade
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12 Conclusion Accepted
First Report - Post-pandemic econo…
Overall, the Industrial Strategy’s blend of horizontal policies with vertical sector- based interventions and a...
Overall, the Industrial Strategy’s blend of horizontal policies with vertical sector- based interventions and a mission-oriented approach offered significant flexibility for policymakers. The mission-based approach helped to provide direction of travel and focus for both the Government and industry on … Read more
Government Response
The government outlines the core programmes of the 2017 Industrial Strategy and states that ongoing aspects will continue, with some policies evolving as part of the Plan for Growth.
Department for Business and Trade
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15 Recommendation Accepted
First Report - Post-pandemic econo…
While we recognise it has chosen not to replicate the Industrial Strategy’s formal structure of...
While we recognise it has chosen not to replicate the Industrial Strategy’s formal structure of Sector Deals, Foundations, and Grand Challenges and missions, the Government should clarify what balance it has sought between vertical, horizontal and mission-led policy in the … Read more
Government Response
The government clarifies that its Plan for Growth adopts a balance of both horizontal, economy-wide interventions and complementary sector-focused vertical policies, with its Innovation Strategy outlining a renewed approach to mission-based innovation.
Department for Business and Trade
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16 Conclusion Accepted
First Report - Post-pandemic econo…
A fundamental flaw of post-2017 industrial policy is that the Industrial Strategy failed to embed...
A fundamental flaw of post-2017 industrial policy is that the Industrial Strategy failed to embed itself as touchstone for British industry. Each foundation and mission of the Strategy was appropriate in its own right, but in combination the Industrial Strategy … Read more
Government Response
The government describes the core programmes of the 2017 Industrial Strategy and states that ongoing aspects will continue, with some policies evolving as part of the Plan for Growth, without directly addressing the committee's critique of the strategy's complexity or remoteness.
Department for Business and Trade
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18 Conclusion Accepted
First Report - Post-pandemic econo…
Sector deals can have a galvanising effect across industries, bringing to bear an industry-wide focus...
Sector deals can have a galvanising effect across industries, bringing to bear an industry-wide focus on enhancing skills and advancing research and development. We are mindful, however, that multiple sector deals can spread resources too thinly and that ‘horizontal’ mission … Read more
Government Response
The government outlines its approach to sectoral policy within the Plan for Growth, which adopts a balance of both economy-wide horizontal interventions and sector-focused vertical policies.
Department for Business and Trade
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22 Recommendation Accepted
First Report - Post-pandemic econo…
In response to this report the Government should set out how it intends to take...
In response to this report the Government should set out how it intends to take forward a sectoral approach to industrial policy. The Government should explain how reprioritisation may be consistent with maintaining the existing deals and whether a coordinated … Read more
Government Response
The government clarifies its sectoral approach involves publishing visions for high-growth sectors, citing the Life Sciences Sector Vision as an example, and confirms that while the Sector Deals Programme is now closed to new deals, existing deals will continue.
Department for Business and Trade
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24 Recommendation Accepted
First Report - Post-pandemic econo…
Government should develop clear ‘defensive’ interventions for sectors going through rapid change, to prepare workers...
Government should develop clear ‘defensive’ interventions for sectors going through rapid change, to prepare workers and communities for the loss of jobs and/or businesses that will inevitably occur in their local communities, and to support them in taking advantage of … Read more
Government Response
The government states that its existing Plan for Jobs, including schemes like Restart and Kickstart, and the UK Community Renewal Fund, already provide support for workers and communities in changing sectors. It also highlights the upcoming Levelling Up White Paper which will set out further plans.
Department for Business and Trade
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36 Conclusion Accepted
First Report - Post-pandemic econo…
On this basis, we share the concerns of the Public Accounts Committee (PAC), which called...
On this basis, we share the concerns of the Public Accounts Committee (PAC), which called into question the extent to which the Industrial Strategy Challenge Fund (ISCF) supports research-orientated small businesses. Given the scale of the funding attached to the … Read more
Government Response
The government recognises the Committee's concerns regarding the Industrial Strategy Challenge Fund and states it has agreed a robust action plan to address these, in line with recommendations from various bodies and the levelling up agenda.
Department for Business and Trade
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37 Conclusion Accepted
First Report - Post-pandemic econo…
We are concerned that the ISCF as a source of public finance should not reinforce...
We are concerned that the ISCF as a source of public finance should not reinforce the trends seen in access to private finance, in particular venture capital. In addition, we are concerned that difficult approval processes and the challenge of … Read more
Government Response
The government recognizes the Committee's concerns regarding the Industrial Strategy Challenge Fund (ISCF) and has agreed a robust action plan to address these, aligning with its broader levelling up agenda.
Department for Business and Trade
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38 Recommendation Accepted
First Report - Post-pandemic econo…
We recommend that UKRI put in place an action plan which: • sets out how...
We recommend that UKRI put in place an action plan which: • sets out how they will ensure that the ISCF stimulates innovation in all the nations and regions of the UK; • details how UKRI will reverse the trend … Read more
Government Response
The government recognizes the committee's concerns regarding the Industrial Strategy Challenge Fund (ISCF) and has agreed to a robust action plan to address the recommendations, including ensuring innovation across the UK and better supporting SMEs.
Department for Business and Trade
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41 Conclusion Accepted
First Report - Post-pandemic econo…
The post-pandemic and post-Brexit environment will provide the Government with an opportunity to reshape how...
The post-pandemic and post-Brexit environment will provide the Government with an opportunity to reshape how public procurement can be used to drive innovation by British businesses. Whilst there was no appetite amongst witnesses for industrial policy to be used to … Read more
Government Response
The government published a Green Paper, 'Transforming Public Procurement,' setting out proposals to simplify processes and reduce bureaucracy, and aims to bring forward primary legislation soon after analysing the consultation responses.
Department for Business and Trade
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Government Response AI assessment · 44 of 19 classified
Accepted 13
Acknowledged 13
Not Addressed 17
Rejected 1
Total 19 recs + 25 conclusions
Correspondence 2 letters
11 Mar 2021 To committee Letter from the Secretary of State to the Chair on the Industrial Strategy
Parliament page
4 Mar 2021 To committee Letter from the Chair to the Secretary of State regarding the future of the Industrial Strategy
Parliament page