Government not united behind industry strategy

Government not united behind industry strategy

Business Secretary Vince Cable outlined “it will be necessary to win battles in Government to prioritise this agenda [the Industrial Strategy]” in a speech in London today.

Dr Cable’s comments signal that not all of Government is behind the long-term strategy he announced in September.

Asserting the importance of continuation if the Liberal Democrats are not in government after the next election, Dr Cable commented: “Investment in skills a classic market failure, requiring permanent government support.”

The Business Secretary also tried to manage expectations by saying that the government’s manufacturing initiatives will take time to bear fruit.

“More needs to be done to reverse the constraints on skills that have resulted from the historic lack of investment.”

The Business Secretary said that getting the skills system right has been government’s biggest mistake and the reason why a long-term strategy is required.

“To have the skills we need in 2020 or 2030 we need to start acting now,” commented Cable. “Too much failure in the past has come from the government ignoring the input of industry.”

Slamming past government’s record on skills he stated that the long-term Industrial Strategy is recognition “that is necessary to plan for the long-term [...] and an understanding that government must work with industry to tackle genuine market failures where they occur.”

After confusion in the mainstream media, Cable affirmed that this does not mean picking winners in the traditional sense, entrenching old industries, “but ensuring that the UK is ready to take advantage of new opportunities as they develop.”

Leave a Reply

You must be logged in to post a comment.

Related Topic Article

Tuan Nguyen, senior manager of DELMIA Global Enterprise Manufacturing Intelligence at Dassault Systèmes, talks about how manufacturers can take a more lean approach to management.

Tuan Nguyen

Related Topic Article

UK manufacturers are keen to remain part of the European Union according to an EEF survey.

Europe flag in tree. Attributed to NiccolA Caranti

UPCOMING EVENTS

Reports

  • ERP Buyer’s Guide 2014

    Make the wrong decision, and it can blow up in your face. You’ll pay too much. It won’t be the right system for your business or the right system for your industry. Or you’ll outgrow

  • Automation and Robotics 2014

    Welcome to The Manufacturer’s special supplement on automation. If Prime Minister David Cameron is right and the world is in ‘fast forward mode’, then the pressure is on for UK manufacturing to raise its investment

More reports

Advert

Manufacturing Jobs

View all jobs

Advertisements

Advertisement

Tracking