Assessing May's industrial plan

Synopsis

UK prime minister Theresa May announces an industrial strategy aimed at enhancing the country's leading sectors, particularly in Tech and Pharma. Rob Armstrong, chief leader writer, discusses the government's focus on supporting these sectors while ensuring that prosperity is distributed beyond London and the southeast. The strategy addresses the skills gap and emphasizes the need for a more detailed productivity policy, as the UK lags behind its European peers in productivity growth. Carolyn Fairburn, director general of the CBI, expresses that having an industrial strategy is better than having none, although Armstrong critiques the vagueness and excess detail in the current proposal. The discussion highlights the importance of a clear productivity policy over a broad industrial strategy that may not effectively address the specific needs of the economy.