Recommendations & Conclusions
6 items
2
Conclusion
Fourth Report - Jobs, growth and produc…
Accepted
Although witnesses were generally in agreement with the broad aims and priorities in the Plan for Growth, there was some dissatisfaction in both written and oral evidence with other aspects. It was suggested that there was a lack of detail and a lack of collaboration with businesses and regional bodies, …
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Although witnesses were generally in agreement with the broad aims and priorities in the Plan for Growth, there was some dissatisfaction in both written and oral evidence with other aspects. It was suggested that there was a lack of detail and a lack of collaboration with businesses and regional bodies, and that there was no overall strategic vision of what the UK’s economic problems were, how they should be prioritised, and what policies and interventions were therefore effective. It is not clear to us how the Plan for Growth offered an advance on the Industrial Strategy.
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Government response AI summary
The government states that the Plan for Growth is an overarching framework which helps to support a whole-Government approach to delivering long-term growth, and outlines processes already in place.
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HM Treasury
3
Conclusion
Fourth Report - Jobs, growth and produc…
Accepted
We are concerned at the abolition of, and the lack of a replacement for, the Industrial Strategy Council, which provided oversight and evaluation of the Government’s growth strategy, and a suite of detailed metrics against which to judge the success of growth policies. The Council was a force for consistency …
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We are concerned at the abolition of, and the lack of a replacement for, the Industrial Strategy Council, which provided oversight and evaluation of the Government’s growth strategy, and a suite of detailed metrics against which to judge the success of growth policies. The Council was a force for consistency and long-termism.
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Government response AI summary
The Plan for Growth is an overarching framework which helps to support a whole-Government approach to delivering long-term growth, and progress is measured through Outcome Delivery Plans (ODP) with departments reporting their progress to Cabinet Office and HM Treasury on a quarterly basis.
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HM Treasury
4
Conclusion
Fourth Report - Jobs, growth and produc…
Accepted
The Government as a whole is spending a large amount of money and time on devising growth strategies and policies. It is important to have a robust, overarching strategy for this that drives co-ordination across departments. This function may well sit best in the Treasury. However, it is unclear to …
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The Government as a whole is spending a large amount of money and time on devising growth strategies and policies. It is important to have a robust, overarching strategy for this that drives co-ordination across departments. This function may well sit best in the Treasury. However, it is unclear to what extent the Plan for Growth is an active strategy driving the Treasury’s activities as the co-ordinating economics ministry. As a result, there is a risk that growth strategy and policy are fragmenting across departments.
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Government response AI summary
The government states that the Plan for Growth is an overarching framework which helps to support a whole-Government approach to delivering long-term growth, and outlines processes already in place.
Read full response →
HM Treasury
5
Recommendation
Fourth Report - Jobs, growth and produc…
Accepted
In its response to this Report, the Treasury should set out how it is making the Plan for Growth an effective successor to the Industrial Strategy, given that it is not taking on additional resources for this purpose, and in particular the steps it is taking to ensure co-operation across …
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In its response to this Report, the Treasury should set out how it is making the Plan for Growth an effective successor to the Industrial Strategy, given that it is not taking on additional resources for this purpose, and in particular the steps it is taking to ensure co-operation across departments, to take feedback and to monitor results.
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Government response AI summary
The government states that the Plan for Growth is an overarching framework which helps to support a whole-Government approach to delivering long-term growth, and outlines processes already in place.
Read full response →
HM Treasury
6
Conclusion
Fourth Report - Jobs, growth and produc…
Accepted
We do not believe that the Plan for Growth should necessarily be discontinued, let alone the Industrial Strategy revived, as another wholesale change in policy would exacerbate the lack of long termism and consistency in policymaking. Nonetheless, there needs to be a renewed effort at a co-ordinated growth strategy across …
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We do not believe that the Plan for Growth should necessarily be discontinued, let alone the Industrial Strategy revived, as another wholesale change in policy would exacerbate the lack of long termism and consistency in policymaking. Nonetheless, there needs to be a renewed effort at a co-ordinated growth strategy across Government, with clear lines of accountability and co-ordination across departments, and with clearly defined and measurable metrics for success. Government should think about Jobs, growth and productivity after coronavirus 63 how to build institutional approaches that will embed its strategy across departments for the long term. It should also put in place an effective mechanism for carrying out oversight and evaluation of its growth strategy. (Paragraph 45) Productivity after Coronavirus—The key challenges facing the UK
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Government response AI summary
The Plan for Growth is an overarching framework which helps to support a whole-Government approach to delivering long-term growth, and progress is measured through Outcome Delivery Plans (ODP) with departments reporting their progress to Cabinet Office and HM Treasury on a quarterly basis.
Read full response →
HM Treasury
13
Conclusion
Fourth Report - Jobs, growth and produc…
Accepted
The target to spend 2.4 per cent of GDP on research and development (R&D) is an important aspect of growth policy. We re-iterate our disappointment over the pushing-back of the target to spend £22 billion of public money on R&D and continue to warn against any further slippage. (Paragraph 105) …
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The target to spend 2.4 per cent of GDP on research and development (R&D) is an important aspect of growth policy. We re-iterate our disappointment over the pushing-back of the target to spend £22 billion of public money on R&D and continue to warn against any further slippage. (Paragraph 105) Jobs after Coronavirus
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Government response AI summary
Government spending on R&D will increase to £20 billion a year by 2024–25, a cash increase of around a third compared to 2021–22.
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HM Treasury