Productivity & industrial strategy The art of strategy How to make a success of the Government’s new Industrial Strategy 9 December 2024 Greg Thwaites David Willetts This report serves as the Resolution Foundation’s consultation response to the UK Government’s Green Paper Invest 2035: The UK’s Modern Industrial Strategy, outlining a 10-year plan for fostering economic growth building on eight key sectors. It evaluates the strategy’s objectives, trade-offs, and proposed instruments, offering a critique and recommendations to help shape an effective Industrial Strategy as the Government develops its forthcoming White Paper. The report highlights the Green Paper’s clear focus on growth and decarbonisation but identifies ambiguities in its goals for regional growth and economic security. It stresses the need for a sharper focus on trade-offs, better policy instruments, and improved data. The proposed Industrial Strategy Council and targeted policy measures must acknowledge the challenges of regional inequality and resource allocation effectively.
