The UK has to develop an industrial strategy to rebalance the economy towards trade and investment. We need the continuation of existing policies to drive growth and secure private sector investment, but that alone will not be enough.
This report makes the case for going a step further, taking the initiative in a limited number of sectors to seize the global opportunities that will come from developing them into world-beaters.
The prize for realising our immediate potential in these focused sectors is huge: a £30bn boost to exports and a trade surplus by 2020. Yet the prize for embedding a strategic approach in government for the long term is even greater – a sustainable industrial future for the UK.