For the first time since the Thatcher era, Britain’s new Prime Minister Theresa May has put the focus back on the need to put an industrial strategy in place. To this end the Prime Minister has transformed the former Department for Business, Innovation and Skills into the ‘new’ Department for Business, Energy and Industrial Strategy.
Just prior to her election as the Conservative Party leader, Theresa May indicated her aims for the United Kingdom for “building a proper industrial strategy to get the whole economy firing, and a plan to help not one or even two of our great regional cities but every single one of them.” The words ‘industrial strategy’ immediately reverberated around a country that hasn’t heard such liberal rhetoric since the eighties and marks the end of strategic plans for steel, energy, transport and even the climate, which followed a swathe of deregulation moves advocated by Margaret Thatcher.
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