This paper to relates to the September 2013 Industrial Strategy Conference. It:
- brings together insights from analysis underpinning the sector strategies, focusing on the 4 themes of the conference – supply chains, innovation, skills and exports
- confirms that a sector approach may effectively complement more traditional measures
- identifies issues that are common across the sectors, but also shows the significant differences which will affect our policy response
- includes the findings of new research to support a number of the strategies, including on nuclear and construction industry supply chains and developments in the information economy
The government set out its Industrial Strategy that included 5 core areas: sectors, technologies, access to finance, skills and procurement. Government and industry should plan and work together for the long term to deal with genuine market failures in these areas, and build the confidence to invest.
Industry and government developed joint strategies for 11 sectors which are now being implemented and form a central part of the Government’s growth strategy. Each of these strategies assesses how technologies, access to finance, skills and procurement can be used to develop the economic potential of particular sectors.
Our sector analysis paper identified sectors with significant growth potential where joint government and industry action could achieve most value. Since then, in conjunction with industry experts and other government analysts, we have reviewed the evidence for each sector. We considered future growth opportunities as well as barriers to growth, and reviewed the competitive environment in each sector.