Industrial strategy
An industrial strategy is a form of government intervention in the economy. The intention is that government will work with key businesses in a particular sector to help them improve their investment and become more productive by providing them with particular forms of help.
As an industrial policy, it can be seen as being an interventionist approach for a government to take, as it increases the rate of investment and ‘intervenes’ to try to improve productivity, i.e. how efficiently they produce output. As such, the UK had not favoured the concept of an ‘industrial strategy’ since the Labour government of the 1970s. However, when Theresa May took office as Conservative Prime Minister in 2016, the term was reintroduced.
In November 2017, the government published a white paper; Industrial Strategy: building a Britain fit for the future, which set out ‘…a long term plan to boost the productivity and earning power of people throughout the UK’. The aim of the strategy is to make the UK the world’s most innovative nation by 2030.
As one of the sector-specific strategies, the Construction Sector Deal, which was launched at the same time, is a strategic, long-term partnership with government, backed by private sector co-investment. The deal, which the government claim is worth £420 million, is intended to transform construction through the use of innovative technologies, increasing productivity and delivering new homes faster and with less disruption. Described as a ‘bytes and mortar revolution', it promotes the use of digital design and offsite manufacturing to transform construction and provide 1.5 million new homes by 2022. It also supports the Clean Growth Grand Challenge to halve the energy use of new builds by 2030.
In March 2021, the details of the Budget included the shelving of the industrial strategy in favour an ad hoc approach to supporting economic growth. The the council of business chiefs which oversaw the industrial strategy, was also scrapped.
[edit] Related articles on Designing Buildings Wiki
- Budget 2021.
- Building an industrial strategy.
- Building our Industrial Strategy: green paper.
- CIOB responds to Sixth Carbon Budget.
- Conservative conference - industrial strategy.
- Construction 2025.
- Construction Leadership Council.
- Construction Sector Deal launch.
- Core Innovation Hub.
- Digital Built Britain.
- Government construction strategy.
- Government urged to include home energy retrofits in Industrial Strategy.
- Industrial Strategy: building a Britain fit for the future.
- Lords industrial strategy debate.
- Manufacturing Technology Centre.
- Transforming Construction Alliance.
- Transforming infrastructure performance.
- UK Digital Strategy.
Featured articles and news
Heat pump announcements, what homeowners need to know
An 'ultimate guide to heat pumps' from a heating company.
Construction contract awards reach £7.1bn in February
Their highest level in seven months.
The journey to sustainability in heritage
Research is the key to better understanding.
Heritage approaches to adaptation, mitigation and loss.
Bridging the gap between policy, finance and installation.
Development on brownfield land
Definition, background, policy and the latest consultation.
With the Design Framework for Building Services.
Retrofit of Buildings, a CIOB Technical Publication
Pertinent technical issues, measures and the roles involved.
ECA joins HSE campaign to support mental health
Working Minds’ five simple steps based on risk assessment.
Mental health in the construction industry
Mental health issues in brief with related articles.
Transitional arrangements, Building Control and the BSR.
For pre-October buildings with substantial progress by April.
How to write an inspection and test plan
ITPs for quality control and assurance particular elements.
Why quality counts in domestic ventilation systems
From products, to systems to the installation.
Empowering the Future with CIOB Academy
Lifelong learning, upscaling, and reskilling for the built environment.
Winners of the 2024 ASBP Awards
Project, Product and Initiative according to the 6 pillars.