First Report - Post-pandemic economic growth: Industrial policy in the UK

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.