Industrial Strategy Advisory Council welcomes publication of the Industrial Strategy
Published 23 June 2025
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Since the Industrial Strategy Advisory Council’s (ISAC) formation in December 2024, we have met with businesses, local leaders and trade unions and worked with officials across government to advise on the development of the Industrial Strategy. Our objective was to support government in developing an Industrial Strategy that will unblock barriers to growth and investment and help deliver quality jobs and higher living standards across the UK.
We are pleased to see the government take action on 2 key issues for industry by announcing it will level the playing field by reducing electricity costs for thousands of energy intensive businesses, and commit to upskilling the nation with an extra £1.2 billion per year by 2028 to 2029, alongside targeted support for defence, digital and engineering skills.
More broadly, in a tight fiscal context we welcome the decision to prioritise government investment in areas that will drive growth, such as the £22.6 billion per year by 2029 to 2030 for research and development and £4 billion of capital for the British Business Bank to support Industrial Strategy growth sectors. If implemented with ambition and pace, the Industrial Strategy will drive real improvements for UK industry and its workforce.
Today’s publication is not the last word on Industrial Strategy, but it is an important moment. Its success will be in how it guides decisions – in government and beyond – over the years ahead. It will need to be able to respond to opportunities that arise, and changes in the context, during this time.
We trust that the government will continue to consider and develop robust policy options in response to the commitments made and challenges set out today. In particular, the Council urges the government to maintain a strong focus on delivering the fundamental reform that is urgently required in areas such as closing the UK’s skills gaps, reducing the UK’s uncompetitive energy prices for all users and building an agile and dynamic business environment which fosters entrepreneurship and innovation.
The Industrial Strategy Advisory Council will continue to work with the government and wider stakeholders to ensure the effectiveness of the Strategy by monitoring its implementation and building a robust evidence base to support ongoing policy-making. We welcome the government’s commitment to place the Council on a statutory footing, which will strengthen our work as an independent, permanent body.