To ask the Secretary of State for Business, Energy and Industrial Strategy, pursuant to the oral contribution of the Minister for Small Business, Consumers and Corporate Responsibility of 11 September 2018, Official Report, column 302WH, what progress his Department has made on assessing the potential merits of establishing an expanded and mission-oriented industrial strategy focused on achieving investment-led growth, with the aims of (a) diversifying the UK's industrial base, (b) driving up exports, (c) raising productivity and (d) addressing regional imbalances.
The Government’s ambitious, modern Industrial Strategy sets out a long-term plan to boost the productivity and earning power of people throughout the UK.
The Industrial Strategy sets out four Grand Challenges to put the UK at the forefront of the industries of the future. As part of our approach we have developed four ambitious missions to tackle these Grand Challenges bringing government, businesses and organisations across the country together to make a real difference to people’s lives.
The Industrial Strategy’s Grand Challenges and mission-based approach are underpinned by the five foundations of productivity: Ideas, People, Infrastructure, Business Environment and Places. These foundations include an ambitious Export Strategy and supporting local areas to develop Local Industrial Strategies and strengthen local economics. By building strong foundations, we will create the best environment for the missions to succeed and deliver opportunities for new, world-leading industries across the UK.