Policy

Using Industrial Strategy to help the UK economy and business compete and grow

Issue

Changes in the international economy mean an increase in both competition and opportunities from global markets. The government wants to enable UK businesses to compete and grow.

We are developing an industrial strategy; this is about setting out a long-term, whole of government approach to how we support business. This will give confidence now for investment and growth.

Actions

We will:

  • develop strategic partnerships with industry
  • support emerging technologies
  • improve access to finance for businesses
  • work with business to help develop skills that businesses will need
  • publish government contracts to provide confidence to business investment

Background

The Business Secretary Vince Cable set out the government’s approach to industrial strategy in September 2012.

The industrial strategy builds on the government’s Plan for growth(PDF 1.7 Mb) and the Growth review(PDF 617 Kb) which looked at how the government is addressing the barriers faced by industry.

The importance of an industrial strategy was also highlighted in Lord Heseltine’s report on UK competitiveness ‘No stone unturned’.

See the government’s industrial strategy publications.

Analysis

We’ve published an analysis of industry sectors outlining the factors considered when we chose which industries to work with.

We have also published an analytical insights paper, drawing together the analysis that underpins the sector strategies, and a Growth Dashboard. This shows key growth performance indicators across themes such as the UK’s growth performance, growth ambitions, sector performance and Industrial Strategy, sub-national performance, and business performance. The Growth Dashboard will be updated every 6 months.

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