Google+
moving-on-banner-v3
Home / Blog / Two-Minute Brief – The Industrial Strategy

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

People

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

Infrastructure

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.

Comments are closed.

Scroll To Top