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Government 'science and tech superpower' plans will fail without wide-ranging industrial strategy, warns CIPD

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Summary

The CIPD has warned that the UK government's plans to become a 'science and technology superpower' will not be successful unless it is accompanied by a more comprehensive industrial strategy that addresses skills shortages, stalled productivity, and weak business investment across all sectors of the economy. The IoD has called for an industrial strategy based on innovation, while the CIPD paper suggests focusing on 'everyday economy' sectors, such as retail and hospitality, which often lack investment. A range of policy changes are needed to boost investment and productivity across all sectors, the CIPD concluded.

Q&As

How can the UK become a "science and technology superpower"?
The UK can become a "science and technology superpower" by investing in research and development, high-tech and green growth sectors.

What does the CIPD's new discussion paper, "An industrial strategy for the everyday economy" suggest?
The CIPD's new discussion paper suggests that a clear and comprehensive approach is required to increase productivity across all sectors of the UK economy.

What issues does the CIPD's chief executive, Peter Cheese, warn must be addressed to improve UK productivity and living standards?
Peter Cheese warns that skills shortages, stalled productivity and weak business investment in skills and technology must be addressed to improve UK productivity and living standards.

What does the Institute of Directors (IoD) recommend for an industrial strategy?
The Institute of Directors (IoD) recommends an industrial strategy based on innovation.

How could an incremental, bottom-up approach to innovation boost productivity and performance across the economy?
An incremental, bottom-up approach to innovation could boost productivity and performance across the economy by encouraging and enabling more firms to invest in technology, management capability and workforce skills development.

AI Comments

👍 This article is an excellent discussion of the need for a comprehensive industrial strategy to address the UK's challenges. It is great to see the CIPD, IoD, and other experts advocating for a more holistic approach that focuses on innovation and addresses the everyday economy.

👎 While this article is an interesting discussion of the need for an industrial strategy, there are no concrete actions proposed from the CIPD, IoD, or other experts to address the challenges facing the UK. Without tangible solutions, it is hard to imagine that the government's plans will be successful.

AI Discussion

Me: It's about how the government's plan to make the UK a "science and technology superpower" won't be successful unless it's linked to a more comprehensive approach that boosts productivity in all sectors of the economy. The CIPD is warning that unless the government can encourage more firms to invest in technology and workforce skills, it's unlikely that UK productivity and living standards can improve sustainably.

Friend: Wow, that's really interesting. It makes a lot of sense that the government needs to invest in all sectors if they want to boost the economy. But do you think they have the resources to do that?

Me: Well, I think they do have the resources, but it's going to take a lot of planning and coordination to make sure that all sectors are being adequately supported. It's going to take a lot of effort to ensure the government invests in the right areas and that their efforts are making a real difference. And, of course, it's going to take a lot of money to make sure all sectors are being adequately supported.

Action items

Research the current industrial strategy in the UK and identify areas for improvement.
Develop a plan to increase productivity across all sectors of the UK economy.
Advocate for a comprehensive approach to innovation that takes into account the needs of ‘everyday economy’ sectors.

Technical terms

Science and Technology Superpower: A term used to describe a country that has a strong focus on scientific and technological development, often with the aim of becoming a global leader in these areas.
Industrial Strategy: A plan of action designed to improve the economic performance of a country or region by focusing on specific industries or sectors.
Productivity: The amount of output produced per unit of input, usually measured in terms of labour or capital.
Skills Shortages: A situation in which there is a lack of qualified people to fill available jobs.
Business Investment: The use of money to purchase assets or to fund operations in order to generate a return.
Workforce Planning: The process of anticipating and preparing for future workforce needs.
Capability Building: The process of developing the skills and knowledge of employees in order to increase their effectiveness.
Innovation: The process of creating new products, services, or processes.
Digitalisation: The process of converting data or information into digital form.
Green Transition: The process of transitioning to a more sustainable economy by reducing the use of fossil fuels and other resources.
Labour Market Enforcement: The process of ensuring that labour laws and regulations are followed.