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
View on parliament.uk
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
View on parliament.uk
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
View on parliament.uk
Panel 1
Catherine Lewis La Torre · British Business Bank Irene Graham · ScaleUp Institute James Wise · Balderton Capital
8 Oct 2020
View on parliament.uk
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
View on parliament.uk
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
1 Recommendation Acknowledged
First Report - Post-pandemic econo…
The economic outlook has been fundamentally altered by the Covid-19 pandemic and by Brexit, and...
The economic outlook has been fundamentally altered by the Covid-19 pandemic and by Brexit, and today’s circumstances therefore require a revised focus in industrial policy. However, some of the foundations and long-term challenges that the 2017 strategy sought to address … Read more
Government Response
The government acknowledges the report and states its 'Build Back Better: our plan for growth' addresses a revised focus for industrial policy, incorporating considerations for current economic challenges and stakeholder engagement, rather than committing to new specific actions.
Department for Business and Trade
View details
3 Conclusion Acknowledged
First Report - Post-pandemic econo…
Coordinated and strategic industrial policy is required if the Government is to meet its growth,...
Coordinated and strategic industrial policy is required if the Government is to meet its growth, levelling up and net zero ambitions. It appears that many aspects of the Plan for Growth will be overseen by a cross-cabinet committee chaired by … Read more
Government Response
The government states it is reforming its planning and performance framework, embedding Outcome Delivery Plans, and implementing a new reporting system to support the delivery of objectives under the Plan for Growth.
Department for Business and Trade
View details
9 Conclusion Acknowledged
First Report - Post-pandemic econo…
Uncertainty about the relevance or content of the Industrial Strategy suggests that, in combination, the...
Uncertainty about the relevance or content of the Industrial Strategy suggests that, in combination, the strategy’s multiple overlapping features made it overly complex and obscured its purpose. The extent to which the strategy’s Foundations and Grand Challenges shaped the day-to-day … Read more
Government Response
The government recognises the importance of stakeholder collaboration and states that several existing fora allow it to engage effectively, but does not commit to new measures to address past insufficient engagement or complexity concerns.
Department for Business and Trade
View details
19 Conclusion Acknowledged
First Report - Post-pandemic econo…
The Secretary of State’s commitment to maintain the existing sector deals does not fully address...
The Secretary of State’s commitment to maintain the existing sector deals does not fully address long-term concerns about the Government’s approach to sectoral policy. Whether the Government intends to refocus and prioritise its sectoral Post-pandemic economic growth: Industrial policy in … Read more
Government Response
The government reaffirms its commitment to strategic partnerships with businesses and states the Plan for Growth will set out a vision for high-growth sectors, but does not provide the specific clarity or certainty on its approach to sectoral policy requested by the committee.
Department for Business and Trade
View details
21 Recommendation Acknowledged
First Report - Post-pandemic econo…
The Government should maintain sector deals, not least to ensure an appropriate and strategic balance...
The Government should maintain sector deals, not least to ensure an appropriate and strategic balance between vertical and horizontal policy interventions as described in Chapter 3. However, we are concerned that outside the structure of the Industrial Strategy, sector deals … Read more
Government Response
The government acknowledges the importance of working collaboratively with stakeholders to address business challenges and opportunities, but does not commit to maintaining sector deals or address concerns about their strategic purpose.
Department for Business and Trade
View details
25 Conclusion Acknowledged
First Report - Post-pandemic econo…
The process of developing Local Industrial Strategies was a useful exercise for many areas, even...
The process of developing Local Industrial Strategies was a useful exercise for many areas, even where no strategy was ultimately agreed with central Government. However, it is unclear what impact they have had in practice at either increasing local growth … Read more
Government Response
The government acknowledges past work on Local Industrial Strategies and states it is encouraging local places to set their own economic strategies under the Plan for Growth, building on previous efforts.
Department for Business and Trade
View details
27 Conclusion Acknowledged
First Report - Post-pandemic econo…
The Local Industrial Strategy model faced key limitations, including: a lack of associated long-term funding...
The Local Industrial Strategy model faced key limitations, including: a lack of associated long-term funding that could help unlock local investments; variable local institutional capacity to develop, implement and evaluate local strategies; limited priority and capacity within central Government to … Read more
Government Response
The government agrees its policies should support the whole economy and deliver for all parts of the UK, but does not address the specific limitations identified with the Local Industrial Strategy model.
Department for Business and Trade
View details
28 Recommendation Acknowledged
First Report - Post-pandemic econo…
We conclude that Local Industrial Strategies are useful and should be continued in the future,...
We conclude that Local Industrial Strategies are useful and should be continued in the future, but that the Government should set out how it will ensure that local areas are equipped with the skills, resource and incentives needed to produce … Read more
Government Response
The government agrees that its policies should support the whole economy but does not provide specific details on how it will equip local areas, prioritize engagement, publish assessments, or confirm LEPs as delivery bodies for local industrial strategies.
Department for Business and Trade
View details
30 Conclusion Acknowledged
First Report - Post-pandemic econo…
The process of designing Local Industrial Strategies effectively underpinned strategic conversations about industrial policy at...
The process of designing Local Industrial Strategies effectively underpinned strategic conversations about industrial policy at the local level. In particular, the insights and networks they generated among local stakeholders could support the effective use of central Government funding for levelling … Read more
Government Response
The government acknowledges its past work on Local Industrial Strategies but notes a changed economic environment, stating that local places are encouraged to set their own economic strategies building on past work, and that existing LISs will continue to be considered.
Department for Business and Trade
View details
33 Recommendation Acknowledged
First Report - Post-pandemic econo…
The Government should clarify through what mechanism it intends to incorporate local industrial and economic...
The Government should clarify through what mechanism it intends to incorporate local industrial and economic insights and intelligence into future national-level policies—in particular, into the Plans, Strategies and Reviews listed in the Plan for Growth which the Government has said … Read more
Government Response
The government agrees on the importance of local insights and states it will continue to work with devolved administrations and local leaders, but clarifies no specific mechanism, leaving decisions on engagement approaches to individual departments.
Department for Business and Trade
View details
34 Conclusion Acknowledged
First Report - Post-pandemic econo…
The growth capital gap is a brake on the ability of small businesses to innovate...
The growth capital gap is a brake on the ability of small businesses to innovate and accelerate their growth. Venture capital in the UK does not always fill the gap and support the right businesses in the right places at … Read more
Government Response
The government reaffirms its commitment to strategic partnerships and notes the Plan for Growth's intention to set a vision for high-growth sectors, but it does not specifically address the identified growth capital gap or vacuum.
Department for Business and Trade
View details
35 Conclusion Acknowledged
First Report - Post-pandemic econo…
International investment in British businesses can support growth and is positive on an individual basis.
International investment in British businesses can support growth and is positive on an individual basis. The flow of businesses and IP out of the UK, however, as a consequence of the international venture capital model is cause for concern. The … Read more
Government Response
The government reiterates its commitment to building long-term strategic partnerships with businesses and to setting out a vision for high-growth sectors, but does not outline specific plans to provide alternative investment sources to retain IP and businesses in the UK.
Department for Business and Trade
View details
42 Conclusion Acknowledged
First Report - Post-pandemic econo…
Whilst the future of the Grand Challenges is uncertain the fundamental issues which underpinned them...
Whilst the future of the Grand Challenges is uncertain the fundamental issues which underpinned them remain pertinent. A growing R&D budget channelled through the Industrial Strategy Challenge Fund and the Advanced Research and Invention Agency, in combination with a modification … Read more
Government Response
The government states that previous Grand Challenges work is now core policy and a recently published Innovation Strategy sets out a renewed approach to mission-based innovation, including new Missions to support its priorities.
Department for Business and Trade
View details
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