David Bailey, Professor of Business Economics - Birmingham Business School
The UK government’s new Industrial Strategy Green Paper, launched at the Investment Summit on 14 October, could mark a significant shift in how the country shapes its economic future.
Released amidst a backdrop of global economic uncertainty, deglobalisation, the ongoing impacts of Brexit, and the challenges of net zero and digitalisation, the draft strategy is an attempt to align Britain’s economic base with the key challenges of the 21st century.
The green paper is designed to stimulate debate on how best to position the UK for economic growth. And as with any forward-looking policy document, the strategy will generate a mix of hope and concern.
There is a lot to welcome in the green paper. Actually having a strategy for a start is welcome. Industrial strategy is back, and in a big way. The UK has had numerous strategies before but the last effort was ditched by Boris Johnson who wasn’t a fan.
And the...
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