How can the Conservatives build on the last government's unsung industrial strategy?

While the last Conservative government did not use the term ‘industrial strategy’, it nonetheless effectively operated one. Former chancellor Jeremy Hunt set out five “growth sectors” he wanted to support to drive through the government’s priorities, and funded an Advanced Manufacturing Plan, published a Battery Strategy, and set out plans and resources for aerospace, automotives, offshore wind and more. The government’s post-Brexit reforms to state aid gave UK ministers the ability to set the rules and deploy state subsidy in a more nimble and targeted way, while the Vaccines Taskforce set a precedent for decisive government support of a vital industry, advertising to the world the UK’s excellence in Life Sciences.

But at the same time, Rishi Sunak’s Conservative government was reticent of talking about any kind of industrial strategy, unlike some previous Conservative leaders. This event discussed what the Conservatives should learn from recent experience of industrial policy.  Key questions will include:

Speakers:

Andrew Griffith MP, Shadow Secretary of State for Science, Innovation and Technology

Professor Nigel Brandon OBE, Dean of the Faculty of Engineering and Professor of Sustainable Development in Energy at Imperial College London

Rain Newton-Smith, Chief Executive of the Confederation of British Industry (CBI)

Giles Wilkes, Senior Fellow at the Institute for Government

This event was chaired by Dr Gemma Tetlow, Chief Economist at the Institute for Government.

This event was in partnership with Imperial College London.

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