The Industrial Strategy Commission

Year of publication: 2017

The Commission was formed independent of government. It aimed for a fresh and robust perspective on shaping the UK’s new industrial strategy.

This final report sets out the institutional foundations necessary for such a new approach; in particular the importance of strong Treasury co-ordination, the establishment of an independent Office for Strategic Economic Management to offer an impartial view on policies and monitor outcomes, and a greater degree of local autonomy, including some fiscal powers.

The Commission suggest that at present policy should focus on outcomes in six strategic priorities; decarbonisation; infrastructure; sustainable health and social care; long-term investment; high-value and export industries, and enabling growth everywhere.

The report finds that the UK needs to have more ambition especially for tackling major regional imbalances. One test of success for the approach recommended by the Commission is that in ten years’ time the wellbeing of people and the resilience of local economies right across the UK has improved.

Content type: Anchor institutions

Tags: Report

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