Source · Select Committees · Public Accounts Committee
Recommendation 24
24
Acknowledged
Forthcoming Industrial Strategy focuses on eight growth sectors with industry partnership
Recommendation
The government’s forthcoming Industrial Strategy, which aims to channel support to eight growth-driving sectors, is expected to be published in spring 2025 alongside the Spending Review.49 The Department told us the eight priority sectors were collectively responsible for 30% of GDP and 60% of growth. To inform the Strategy’s design, the Department told us its Green Paper consultation had received over 27,000 responses. The Department told us the Strategy will set out a clear vision, be developed in partnership with industry, and have consistency in approach. There will also be external challenge from the new Industrial Strategy Advisory Council.50
Government Response Summary
The government has committed to regularly reviewing progress against the Industrial Strategy, supported by the ISAC through its expertise on monitoring and evaluation and continued advice on policy development and delivery.
Government Response
Acknowledged
HM Government
Acknowledged
6.1 The government agrees with the Committee’s recommendation. Recommendation implemented 6.2 The government has committed to regularly reviewing progress against the Industrial Strategy. As above, implementation is a government-wide effort, underpinned by shared objectives and metrics. This will be supported by the ISAC through its expertise on monitoring and evaluation and continued advice on policy development and delivery, helping ensure the Industrial Strategy remains fit for purpose. In addition, all fiscal events will set out the government’s continued support for the Industrial Strategy and the IS-8 growth-driving sectors. 6.3 The department has opted for a public approach to monitoring and evaluation, supported by the ISAC (set out above). This is underpinned by an impact pathway, as outlined in the technical annex published alongside the Industrial Strategy, which sets out the underlying logic tracking individual policies to real world outcomes to achieve the Industrial Strategy’s goal of long-term, sustainable, regionally balanced, and resilient growth. 6.4 Government departments and public bodies will carry out monitoring and evaluation for their individual policies and Sector Plans.