Recommendations & Conclusions
6 items
8
Recommendation
7th Report - Industrial Strategy
Accepted in Part
We recommend that the Government develops its forthcoming trade strategy with the industrial strategy and makes sure that it enables the 8 growth-driving sectors to grow exports, including in the food and drink sector. We also recommend that the Government publishes a 71 10-year plan for working to take down …
Government response. The government states the Trade and Industrial Strategies were developed together to support growth sectors with direct export support, including new legislation for UK Export Finance and a "Ricardo Fund" for removing trade barriers. However, it does not commit to …
Department for Business and Trade
12
Recommendation
7th Report - Industrial Strategy
Accepted in Part
To support SMEs to innovate and to continue to grow, we recommend that multi-year framework contracts are available for SMEs in the sectors in which the state is the biggest customer, such as defence and life sciences. We also recommend that the Government set a target for how much of …
Government response. The government states that the Procurement Act (2023) requires central government departments to set 3-year targets for direct spend with SMEs from April 2025, and MOD has committed to increasing defence spending with SMEs by £2.5 billion by May 2028. …
Department for Business and Trade
14
Conclusion
7th Report - Industrial Strategy
Accepted in Part
The UK has a complex system of public finance institutions. We accept that different businesses, depending on where they are on their journey, will need different types of financial support. However, our view is that there would be merit in providing a single front door for companies looking for government …
Government response. The government agrees on the importance of public finance and commits to strengthening coordination across public finance institutions via a new UK Strategic Public Investment Forum. This Forum will bring together key bodies to improve clarity for businesses and investors …
Department for Business and Trade
15
Recommendation
7th Report - Industrial Strategy
Accepted in Part
We recommend, in line with the Harrington review, that the Government should consolidate the public finance institutions, especially the National Wealth Fund and the British Business Bank, preferably into a single body to simplify the system for business and investors looking for government support, together with the reforms we set …
Government response. The government agrees on the importance of public finance but does not commit to consolidating public finance institutions into a single body. Instead, it commits to strengthening coordination and clarity through a new UK Strategic Public Investment Forum.
Department for Business and Trade
24
Recommendation
7th Report - Industrial Strategy
Accepted in Part
We recommend that: • Skills England commission and publish an analysis of the skills gaps across the eight growth-driving sectors and report to Parliament within six months. This should include an estimate of the current and future skills gaps across these sectors over the course of the 10-year period of …
Government response. The government refers to Skills England's ongoing assessments of skills needs, partially addressing the recommendation for analysis. It outlines how the English Devolution White Paper will strengthen local leadership in skills and states a commitment to exploring further devolution, but …
Department for Business and Trade
26
Recommendation
7th Report - Industrial Strategy
Accepted in Part
We recommend that the Department for Business & Trade and Department for Science, Innovation and Technology now conduct a review of the UK’s public research and innovation institutions to ensure they are in alignment with the industrial strategy and that there is clear institutional leadership of research and development for …
Government response. The government acknowledges the need for alignment and leadership in R&D, stating it will give UKRI new objectives to enable innovation and commercialisation, and ensure the Catapult Network is focused on industrial strategy priorities. However, it does not commit to …
Department for Business and Trade