Source · Select Committees · Public Accounts Committee
Recommendation 28
28
Department lacks specific objectives for Industrial Strategy despite setting a growth target.
Conclusion
We asked the Department how it would measure success. Officials told us growth was its overarching objective as measured by GDP per head and real household disposable income. The Department highlighted that trade-offs were required under an industrial strategy and deciding to support one sector over another could not be put down to a simple formula.57 While the Department has yet to specify objectives for the forthcoming Industrial Strategy, the Permanent Secretary said it would be a failure if, in two to three years, the UK growth rate had not improved to at least the G7 average from 1.6% to 1.8%.58 54 Q 80 55 C&AG’s Report, paras 3.3-3.5 56 Q 80 57 Qq 43-45 58 Q 88 17