As Sky News has just reported Industrial Strategy is dead and with it goes the Industrial Strategy Council on which I sat and the excellent secretariat which has generated some powerful and challenging research.Why has our good work been terminated the idea of a strategy binned?
1) The neo-liberal wing of the Conservatives always saw industrial strategy as a dangerously interventionist (foreign sounding) idea 2) This is a Government that prefers one-off eye catching policies and stories to the more complex and demanding notion of a strategy....
3) The strategy was a May Hammond idea so ‘not invented here’ 4) In typically reductive style the Treasury clearly thinks waving big tax incentives is more powerful and much quicker than the long term, multi-faceted approach demanded by a proper strategy....
It is a sad and bad decision. Once again it appears we think are too clever to have anything to learn from other - more successful economies. Industrial Strategy will come back again just as surely as our core economic weaknesses will continue to haunt us....
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