Professor Diane Coyle has been appointed to the Industrial Strategy Council, an independent body set up to assess the Government’s progress on the commitments made in its modern Industrial Strategy.
Chief Economist of the Bank of England, Andy Haldane, will chair the council which comprises senior individuals from business, academia and civil society from all corners of the UK.
The Council, which met for the first time at 10 Downing Street on 01 November, used the inaugural meeting to develop its work programme for the long-term evaluation of the success of the Government’s modern Industrial Strategy.
Its remit will include reviewing the impact of the Industrial Strategy to date and its contribution to UK economic growth, as well as recommending a series of success measures for the implementation of the Industrial Strategy.
Business Secretary Greg Clark said: “The Industrial Strategy Council has a vital role to play in holding the Government to account on our progress in delivering on the ambition set out in our Industrial Strategy. I have asked to Council to be challenging about the way we evaluate our progress in delivering increased productivity and earnings power across our economy.”
Andy Haldane said: “As the Chair of the Industrial Strategy Council, I look forward to working with these leading business men and women, investors, economists, and academics to provide impartial and unbiased evaluations of the Government’s progress in delivering on the Industrial Strategy. They will bring valuable collective insight into the challenge that the government has set for us. At our inaugural meeting we developed our workplan that will deliver strong evaluation metrics and a programme of activity that will challenge and support this critical economic policy as it is implemented.”