Industrial strategy deserves attention

The publication of the Government’s Industrial Strategy deserves our attention and vigilance

The foreword from the Prime Minister contains five paragraphs, the second of which sets out her reasoning for kicking off the development of an industrial strategy on day one of her occupancy of No 10 saying:

“For me it is not enough to see growth in the national economy if your local economy is shrinking. It is not ambitious enough to have record jobs growth, unless those jobs are secure and delivering real growth in wages. And we are not fulfilling Britain’s potential if, despite having scientists and universities renowned the world over, we cannot turn their ideas into the products and services on which the industries of the future will be built.”

There’s no arguing that science is being put front and centre. After many years of lagging behind our international competitors, the industrial strategy confirms the Government’s ambition to reach 2.4% of GDP spent on R&D by 2027 with a long term aim to reach 3% of GDP to equal our international peers. The strategy does fall short of setting out what the public portion of that will look like though. Equally it is clear that the Prime Minister wants to see Britain increase its return on the UK research base, as well as wanting to see more of Britain benefiting. These ambitions are set in the context of the Government’s aspiration of improving productivity thus improving the UK economy.

But is the Industrial Strategy up to the job? Will it deliver on the Government’s ambitions? Will the Industrial Strategy have the longevity, and continued drive, that have failed previous strategies? Perhaps aware of some of these lurking concerns, the Business Secretary stated in his announcement that the strategy must “stand the test of time”.

CaSE will continue to scrutinise funding and policies that impact on the environment for science and engineering in the UK. As part of that we will seek to hold the Government accountable for the delivery of the Industrial Strategy so that the aspirational aims it contains are realised. And we see our role as remaining vigilant to ensure that in the drive to further develop the UK’s innovation strengths we continue to strengthen the UK’s world-beating research base on which our innovation capacity will be built. But the industrial strategy suggests the Government understands the importance of strengthening the ‘foundations’, so we look forward to continuing to work with government, Parliament, our members and the wider science and engineering community to strengthen the environment for science and engineering in the UK.