The objective of the UK Industrial Strategy White Paper is to deliver increased prosperity across society and for the whole of the UK.
It has identified that one of the key elements required to deliver this objective is to increase productivity, and many of the elements within the Industrial Strategy are directed towards enabling this.
With its broad remit, it is unsurprising that the White Paper is long (over 250 pages) - the full document is available here.
The Industrial Strategy is based around Five Foundations of Productivity and Four Grand Challenges:
Table 1: The Five Foundations of Productivity
|Ideas||The world's most innovative economy|
|People||Good jobs and greater earning power for all|
|Infrastructure||A major upgrade to the UK's infrastructure|
|Business environment||The best place to grow and start a business|
|Places||Prosperous communities across the UK|
Table 2: The Four Grand Challenges
|AI and the digital economy||We will put the UK at the forefront of the artificial intelligence and data revolution|
|Future of Mobility||We will become a world leader in the way people, goods and services move|
|Clean Growth||We will maximise the advantages for UK industry from the global shift to clean growth|
|Ageing Society||We will harness the power of innovation to help meet the needs of an ageing society|
The Industrial Strategy contains a number of specific announcements and also supplies a framework for the development of other policies, including links to the Science and Innovation Audits (SIA).
It contains a number of immediate opportunities as well as a longer-term strategy for future developments. Some of the early announcements include further details on the Industrial Strategy Challenge Fund and the Life Science Sector deal.