Theresa May is aiming to ‘build a Britain fit for the future’, but how exactly does she plan to do this? According to the July 2017 Industrial Strategy white paper, the government has proposed to ‘Back our country for the long term’ in light of the ongoing Brexit negotiations.
What is the Industrial Strategy:
The Industrial Strategy is a white paper that was released in July 2017 the proposes to reinvent the previous model and modernise its elements to cater for a modern Britain. The ambition of this project aims to improve the stability of Britain through its economy, helping businesses and schools prosper. The proposal also aims to increase our rankings as a developed country, and if successful, could close the productivity gap that weakens our business development statistics.
Aims & Ambitions:
- This proposal intends to help young people develop a vale of necessary skills to ensure success in their future career paths.
- It offers to strengthen the relationship between the government and the national business industry to help each sector, large or small, thrive.
- In this white paper it was suggested there would be a sector deal to reduce the cost of building schools in the United Kingdom. This would mean schools would become more accessible and it would also provide further teaching jobs and school staff positions.
- The Industrial Strategy proposal also wants to provide extra funding for schools to help ensure the development of crucial academic skills, such as mathematics, to help make their previous statement of helping young people develop skills that would benefit their future a success.
- To provide a simple 5 key policy structure that will include; ideas, people, infrastructure, business environment and places (both regional and national).
What are the Cons?
Although providing further funding to our schools would definitely be an advantage, the reality of this doesn’t seem as simple. According to an article by The Telegraph the investment of £725 million is ‘unlikely to be enough’ for the ambitious plans for a prosperous future for Britain. Furthermore, a large chunk of the funding will be implemented in London and the South East as a way of eventually strengthening the economy across the rest of the UK. However, there is not enough evidence to suggest this will be entirely successful.
What Happens Next:
The four key elements that this white paper is aiming to improve or expand on are; productivity, Brexit, technological advancements and skill sets. With this in mind, the five policies that will effect these key elements will come into place under separate sectors that, as a society, we rely on. These policies are reliant on each other, for example: without research and development (ideas), the policy underlining business environments would not be as successful. Although trial and error may be a common denominator as to what works and what doesn’t, the essential aspect to its success is whether or not we will comply with the policies for them to beneficial for everyone, rather than the individual.