Open

Latest news

Explore insightful perspectives and expert advice on finance

Home |Latest news |Industrial strategy required to 'focus on innovation', says IoD

Latest news

Browse by category
Business News

Industrial strategy required to 'focus on innovation', says IoD

June 08 2023

The Institute of Directors (IoD) has urged the government to create an industrial strategy to help 'define specific long-term priorities for the UK economy'.

A survey carried out by the IoD revealed that 88% of its members favour the development of an industrial strategy. Less than 10% of IoD members think economic growth should be generated by market forces.

The survey found that firms want an industrial strategy that focuses on reinforcing the UK's capabilities as a centre of excellence for Research and Development (R&D) and green investment.

58% of firms polled believe that the strategy should also focus on the development of skills, and 57% would like it to champion developing infrastructure.

'The recent priority for UK government policy has been on regaining economic and financial stability, and in laying the groundwork for the return of economic growth,' said Dr Roger Barker, Director of Policy at the IoD.

'However, this is not enough to sustain the competitiveness of UK business. Business leaders clearly see the value of a longer-term policy framework which places innovation at its core, and which enables innovations to be commercially exploited in the UK.

'Experience suggests that UK policymakers are ill-suited to 'picking winners', either in terms of companies or sectors.'

Here to help

Please complete the form below and our expert team will be in touch.

  • Contact details

    • *
    • *

  • What services are you interested in?

    • *

  • Message

    • *

  • Which location would you like to contact?

  • Communication

    • *Indicates a required fields.†At least one form of contact is required.

      By submitting this form, you agree that Attwoods can process your information in order to respond to your enquiry. For more information visit our Privacy Policy.

Bromsgrove
Bromsgrove

Attwoods is proudly based in the historic market town of Bromsgrove, Worcestershire

  • 182 Worcester Road
  • Bromsgrove
  • Worcestershire
  • B61 7AZ
Call us01527 874170
Learn more about BromsgroveGet in touch
Evesham
Evesham

Attwoods is proudly based in the picturesque town of Evesham, Worcestershire; nestled in the heart of the Vale of Evesham

  • 90-92 High Street
  • Evesham
  • Worcestershire
  • WR11 4EU
Call us01386 424388
Learn more about EveshamGet in touch
Pershore
Pershore

Attwoods is proudly based in the Georgian market town of Pershore, Worcestershire.

  • Perrott House
  • 17 Bridge Street
  • Pershore
  • Worcestershire
  • WR10 1AJ
Call us01386 554870
Learn more about PershoreGet in touch
  • Xero Logo
  • Gold Partner Logo
  • Sage
  • QuickBooks Platinum

The practices of Attwoods are carried on by Attwoods Accountants Limited, Attwoods Business Services Limited, Attwoods (Bromsgrove) Limited. Regulated for a range of investment business activities by the Association of Chartered Certified Accountants.