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The Industrial Strategy was intended to address long-term economic challenges in the UK.
It was replaced with the new Plan for Growth, intended to reflect our new economic circumstances. Businesses saw the Industrial Strategy as complex, remote and removed from day-to-day concerns of British business.
The Government has offered no convincing rationale for the scrapping of the Council’s abolition, and industrial policy would be best served if the Government reversed this decision. The report found that there is a gap in capital which can stymie the growth of British businesses.
The report responded to the concerns of witnesses by exploring how industrial policy can support SMEs.
