The United Kingdom’s policy on strategic industries

Abstract

Standfirst: In 2021, the United Kingdom abandoned plans to formulate an overarching industrial strategy and instead began releasing a series of sector-specific strategies intended to raise the country’s global competitiveness in science and technology. The Spring Budget, launched by the government in March 2023, aims to make investments and policy changes that will help secure the UK’s existing advantages in the digital and clean-energy industries. Due to fiscal constraints, however, the government is more focused on incentivising private investment than increasing public support for scientific research and development.