Cautious welcome for Government industrial strategy

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Shutterstock / Levent Konuk

The Government’s industrial strategy has earned a lukewarm welcome from many in the business community, with some going so far as to say it is inadequate. Analysts and academics have called on the Government to announce concrete plans and funding to back the paper up, and while the paper earned praise for its honest appraisal of the British economy’s problems and challenges, it failed to address many of the issues directly, and many believe the initiatives are doomed to failure unless funding is provided – something the Government has been reluctant to commit to of late.

While little serious mention of the Northern Powerhouse was made, there are indications that devolved powers might be made available to regions – which should be a wakeup call for Yorkshire and Lincolnshire and motivation for the region to push on and create something from this opportunity.