Industrial Strategy Summary Industrial Strategy Summary

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.