Source · Select Committees · Business and Trade Committee
Recommendation 18
18
Paragraph: 82
Sector deals can have a galvanising effect across industries, bringing to bear an industry-wide focus...
Conclusion
Sector deals can have a galvanising effect across industries, bringing to bear an industry-wide focus on enhancing skills and advancing research and development. We are mindful, however, that multiple sector deals can spread resources too thinly and that ‘horizontal’ mission focused interventions can be effective across multiple sectors.
Paragraph Reference:
82
Government Response
Not Addressed
HM Government
Not Addressed
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.