Source · Select Committees · Business and Trade Committee
Recommendation 15
15
Accepted
While we recognise it has chosen not to replicate the Industrial Strategy’s formal structure of...
Recommendation
While we recognise it has chosen not to replicate the Industrial Strategy’s formal structure of Sector Deals, Foundations, and Grand Challenges and missions, the Government should clarify what balance it has sought between vertical, horizontal and mission-led policy in the Plan for Growth. Doing this would ensure the Plan for Growth appropriately captures and balances the benefit of each approach. (Paragraph 64) Sector deals
Government response summary AI-generated
The government clarifies that its Plan for Growth adopts a balance of both horizontal, economy-wide interventions and complementary sector-focused vertical policies, with its Innovation Strategy outlining a renewed approach to mission-based innovation.
Summary of the government's response below — read the verbatim text to verify.
Government Response
Accepted
HM Government · verbatim extract
Accepted
32. The Government’s approach to sectoral policy draws on the academic consensus that identifies economy-wide horizontal interventions – on regulation, research, skills, infrastructure, business environment and innovation – as the bedrock of effective economic strategy, allowing the market to find and grow the highest potential industries. However, there is further evidence that highlights the benefits of sector-focused interventions to complement these cross-economy wide tailored horizontal interventions. The Plan for Growth adopts this balance of both horizontal and vertical policies.
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