In reaction to the news that Theresa May has launched a new industrial strategy for the UK, Karel Williams, Professor of Accounting and Political Economy, commented: “This is a very traditional kind of industrial policy, focussed on high tech sectors of the future. It ignores most of British manufacturing which is much more mundane; the largest sector by employment is food manufacturing, for example.
He added: “As Greg Clarke, Secretary of State for Business, Energy and Industrial Strategy, admits, the announced strategy is a consultation and scoping exercise, rather than a policy. Skills are a priority, but just £170m of investment has been promised for technical education which, if we remember, is just half of the £350m we were promised would be saved by Brexit every week.”
Karel’s comments were picked up across UK press, with his analysis included in City AM, in a blog by Sky Newsbusiness correspondent Ian King, on CNBC’s live blog, and on business sites Digital Look, LSE and Live Charts.