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Two-Minute Brief – The Industrial Strategy

industrial strategyIf you’ve not got the time to read 130 pages – here is our two-minute briefing on the Industrial Strategy.

Weakness – The UK lags behind Germany, France, US and Italy in terms of productivity.

What the government wants to do:

  • Put the UK at the forefront of AI, machine learning and the data revolution
  • Maximise the advantages from clean growth for UK industry
  • Be the world leader in shaping the future of mobility
  • Harness the power of innovation to meet the needs of an ageing population

Five Foundations of productivity

Ideas – New ideas, new ways of doing things, new products, new services and new technologies.

Increase investment in research and development to 2.4% of GDP by 2027

Increase research and development tax credit to 12%

Invest £725m in new Industrial Strategy Challenge Fund programmes


Establish a new technical education system – T-levels

Invest an additional £406m in maths, digital and technical education

Create a new National Retraining Scheme

Deliver 3m apprenticeship starts by 2020


Invest in transport, housing and digital infrastructure

Invest in electric vehicles and charging infrastructure

Invest in 5G and full-fibre networks

Business Environment

Launch partnerships between Government and industry aimed at increasing productivity

Establish a new £2.5bn investment fund for innovative and high potential businesses

Launch a review of the most effective ways of improving the productivity and growth of small and medium-sized businesses

Places – prosperous communities

Agree local industrial strategies, work with mayors, combined authorities, local authorities and LEPs to drive growth.

Create a transforming cities fund for projects that drive productivity by improving transport connections.

Provide £42m to pilot a teacher development premium

About Lynette Daly

Lynette is the publishing editor of Moving On magazine. Moving On is devoted to helping young people make good choices for their future – education, qualifications and careers. Moving On really wants to motivate you! Our articles cover a range of topics to inspire and give ideas. Our magazines are delivered free to all schools, colleges and sixth forms in England and is also available online.

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