Industrial Strategy Commission (External organisation)

Description

Evidence to the The Industrial Strategy Commission (The Barker Commission)

We should learn the lessons of past success in industrial strategy and i) Think more holistically, conceiving industrial strategy as being about more than just a set of specific policy ideas for raising industrial and commercial investment and productivity. Rather, an industrial strategy should place those policies within a broader strategy for the modernisation of the economy, including supportive macro-economic policy. ii) Embrace a balance sheet approach to national income accounting, borrowing to support much higher government investment in industrial strategy and, via balance sheet accounting, recognising the likely long-run return on that investment. iv) Set specific targets for faster economic growth and better productivity that are endorsed by the whole government (and particularly by the Treasury), v) Ensure that decisions in all areas of policy relevant the economy (not least on the level and form of government spending and taxation) are taken with the context of those targets.

Period	7 Mar 2017
Held at	Industrial Strategy Commission, United Kingdom