Steel industry trade union leader Roy Rickhuss and Siemens CEO Juergen Maier have been named as a members of the Government’s newly-formed Industrial Strategy Council.
It is made up of senior individuals from business, academia and civil society complete the line-up of the Industrial Strategy Council, led by the Chief Economist of the Bank of England Andy Haldane.
A full meeting of the independent Council took place in Downing Street where the group agreed how it will assess the government’s progress on the commitments made in the modern Industrial Strategy. The Council was joined for this inaugural meeting by the Prime Minister, the Chancellor and the Business Secretary.
The Prime Minister Theresa May said: “Our modern Industrial Strategy is key to building a successful economy that works for everyone and creating high-quality jobs across the UK.
This Council gathers some of the most influential figures in business, academia, and civil society. Together, they will share their expertise and skills to measure the progress of our strategy and ensure it is boosting people’s wages and improving productivity of British businesses.
Business Secretary Greg Clark said: “The Industrial Strategy Council has a vital role to play in holding the government to account on our progress in delivering on the ambition set out in our Industrial Strategy.
“I have asked the Council to be challenging on how we evaluate our progress in preparing for the industries of the future, delivering increased productivity and high quality jobs across our economy.”
Chair of the Industrial Strategy Council, Andy Haldane, said: “I look forward to working with these leading business men and women, investors, economists, and academics to provide impartial and unbiased evaluations of the government’s progress in delivering on the Industrial Strategy. They will bring valuable collective insight into the challenge that the government has set for us.
At our inaugural meeting we developed our workplan that will deliver strong evaluation metrics and a programme of activity that will challenge and support this critical economic policy as it is implemented.
The remit of the Council includes reviewing the impact of the Industrial Strategy to date and its contribution to UK economic growth.
Its responsibilities include:
- Recommending a series of success measures for the implementation of the Industrial Strategy;
- Commenting on delivery against these measures and their contribution to UK economic growth;
- Commenting on ways to improve the measurement of success, particularly in terms of productivity and the better use of data across government;
- Commenting on the effectiveness of how the impact of existing programmes that contribute to the goals of the Industrial Strategy are evaluated and make recommendations about how to improve evaluation where necessary; and
- Publishing a regular public report assessing progress on implementation of the Industrial Strategy against success measures and on ways to improve measurement and evaluation.
The Council will convene at least three times a year and it will agree its annual work programme and priorities with the Department for Business, Energy and Industrial Strategy (BEIS) and HM Treasury. The Chair will meet annually with the Business Secretary and the Chancellor to discuss its work programme and progress.
The Industrial Strategy is backing businesses to create high-paid, highly-skilled jobs in every part of the UK. It is a long-term plan for jobs and growth across the country. It is creating an economy that works for everyone: highly innovative, highly skilled, and high quality, supported by low tax and smart regulation.