Source · Select Committees · Business and Trade Committee
Recommendation 30
30
Paragraph: 114
The process of designing Local Industrial Strategies effectively underpinned strategic conversations about industrial policy at...
Conclusion
The process of designing Local Industrial Strategies effectively underpinned strategic conversations about industrial policy at the local level. In particular, the insights and networks they generated among local stakeholders could support the effective use of central Government funding for levelling up and community investment. Discontinuing this underpinning structure could hinder this objective and may be especially disruptive as the Government prepares to launch the Shared Prosperity Fund. It is also unclear through what mechanism coordination and co-creation of industrial policy between local business, local government, and central Government will be achieved in future.
Paragraph Reference:
114
Government Response
Not Addressed
HM Government
Not Addressed
56. The Government has worked with all places across England, through the Cities and Local Growth Unit (MHCLG/BEIS) to develop Local Industrial Strategies (LIS). However, in the four years since the Industrial Strategy was produced, the UK’s economic and business environment has changed. 57. Local places are best placed to set their own economic strategies to drive forward growth in their respective local economies. As part of the transition from the 2017 Industrial Strategy to the Plan for Growth, the Government is encouraging places to consider key sectors, assets and clusters they want to support to foster their long-term growth ambitions. This will build on the work undertaken as part of the LIS. The Government will continue to consider existing LISs and recovery plans when making decisions about how the Government supports areas.