Report

UK’s Industrial Policy: Learning from the past?

The UK’s industrial policy since the 1970s has been characterised by frequent policy
reversals and announcements, driven by political cycles, while multiple uncoordinated
public bodies, departments and levels of government are responsible for delivery. This
paper explores the impacts of these deficiencies of the industrial policymaking
landscape in the UK and contrasts them with the experiences of other advanced
economies.

A consequence of the policy inconsistency and poor coordination identified here is that
UK industrial policy lacks adequate information feedback channels from outcomes to
the policy process; there is a failure to learn or to build on successes.

Some potential options for reform, embedding a more systematic mechanism of policy
updating, are also explored, considering lessons from other countries that could be
feasibly implemented in the UK.