Industrial strategy is back on the government’s agenda, with a promise to produce a ‘match fit’ economy that ‘works for everyone’ and is able to thrive after Brexit. As yet, however, there is little sign of the promised broadly-based and coherent industrial strategy emerging. In crafting it, explains Hugh Pemberton, its architects may profitably look back to the 1960s for some pointers.
For nearly a century, governments have tried to shape Britain’s industrial and commercial landscape. Yet, whilst they often wanted to raise industry’s efficiency and competitiveness, historically there was little consensus on how best to do it. And, whilst ‘industrial policy’ and ‘regional policy’ were often in evidence, the crafting of a broader ‘industrial strategy’ was a rarer event. Continue reading