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S1029 - Powerhouse and Engines

Description

BIS Select Committee consultation on Powerhouse and Engines: IET comments


Abstract

The IET responded to the Business, Innovation and Skills Select Committee’s call for evidence on “Powerhouse and Engines”. The inquiry looked at the Northern Powerhouse and Midlands Engine, focussing on whether the Government's devolved arrangements can deliver improved economic growth and if these models could be adopted by other regions.

Our response noted that initiatives such as the "Northern Powerhouse" and "Midlands Engine" bring into focus the manufacturing potential of these regions and promote the value they bring to the economy. The evidence of success of these initiatives is yet to be seen, the real test is the quality and quantity of how these labels help to convene different stakeholders. With government creating these initiatives, there is an excellent opportunity to highlight the central and coordinative importance of an Industrial Strategy to the successful delivery of these projects. The absence of a coherent and joined up strategy will stymie the delivery of these initiatives, even if the existence of these labels indicate a strong desire from government to tilt the emphasis away from London and the South.

The IET noted the key characteristics of a successful Industrial Strategy in the report Engineering an industrial strategy  

Submission Details Submitted on 06 May 2016 to Business Innovation and Skills Select Committee


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Keywords and Search Terms Manufacturing, Policy, Economic benefit, business, investment, Northern Powerhouse, Midlands, devolution, productivity, innovation, SMEs