Author Archives: GovWorldMag

The non-partisan House of Commons select committee for Business, Energy and Industrial Strategy has today released a report calling for a new mission-based approach to industrial strategy. The select committee’s report criticises the Government’s sector based strategy for ‘picking winners’ and for lacking ‘meaningful metrics’ to determine success.

In its report the select committee backed the ‘mission-based’ approach to industrial strategy, which is also advocated by the Labour Party. Labour’s industrial strategy will be challenge-led, mission-oriented and values-driven – providing a long-term vision for the economy that mobilises both public and private investment.

Chi Onwurah MP, Labour’s Shadow Minister for industrial strategy, commented:

“This report reaffirms what we’ve been saying all along: cherry-picking favoured sectors for backroom deals is no substitute for a real long-term vision. Theresa May says she wants to see a high-wage, high-growth economy, but public investment has fallen to half the amount it was under Labour and her sectoral approach is leaving the vast majority of British workers out in the cold.

“Labour’s industrial strategy will be led by the big challenges of our time, from decarbonizing the economy to caring for an ageing population. Rather than taking a scatter-gun approach to sectors and technologies, we’re setting out key missions, such as drawing 60 per cent of our energy from low carbon sources by 2030.”

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Notes to editors:

An article by Iain Wright MP, who chairs the select committee, summarising the report’s findings can be found here: http://www.thetimes.co.uk/article/very-little-industry-and-still-less-strategy-wdt7f99wd

Tom Watson, Labour’s Shadow Secretary of State for Culture, Media and Sport, commenting on the 21^st Century Fox formal notification of its bid for full control of Sky, said:

“The Government should have referred this bid to Ofcom immediately and without equivocation.

“It is clear that Fox’s bid to take full control of Sky will significantly increase the size of the biggest media organisation in the UK and further concentrate power in the hands of a dominant industry player.

“It is therefore clearly in the public interest that the bid is referred to the regulator on media plurality and broadcasting grounds.

“In light of the Government’s decision not to immediately refer the bid and the effect the proposed merger is likely to have on the UK media sector, the Culture Secretary must now ensure MPs are given an opportunity to debate the deal before a decision is taken on whether to approve it.”

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