Lee Hopley, Chief Economist at EEF, the manufacturers’ organisation, says: “This report is a thorough and thoughtful contribution to the development of an important economic plan. It makes it clear that a comprehensive, well-structured and Government-wide industrial strategy is the right way forward. The committee’s recommendations on the need for industrial strategy to transcend the traditional ‘to do’ lists of existing policies will command wide support from manufacturers who recognise that industrial success will stem from a structured, transparent, long-term plan.
“The concept of metrics which are annually monitored and provide guidance for Government departments on where efforts and cash should be focussed is absolutely the right starting point, as is the emphasis on horizontal policies. These must be more than aspirations – it’s mission critical for the UK’s industrial strategy to deliver this time.
“It's helpful to have this critique now at the start of the process and BEIS must not waste this opportunity to get it right. The advice and pointers in this report will help Government to develop a more ambitious white paper and we look forward to continuing to work alongside Government to ensure we get a robust, long-term industrial strategy in place that supports business and Government's post-Brexit ambitions."