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GLOSSARY

Industrial Strategy definition

Published by a LexisNexis Energy expert

What does Industrial Strategy mean?

In January 2017 beis published a green paper: Building our Industrial Strategy. The broad objective of the industrial strategy is to improve living standards and economic growth by increasing productivity and driving growth across the whole country. The strategy identifies the following 10 key pillars: (a) Science (b) research and innovation (c) Skills (d) Infrastructure (e) Business growth and investment (f) Procurement (g) Trade and investment (h) Affordable energy (i) Sectoral policies (j) Driving growth across the whole country (k) Creating the right institutions to bring together sectors and places. On 7 December 2017 the Nuclear Industry Council published its proposals for a nuclear sector deal focussing on how working with the UK Government, substantial cost reduction could be achieved across the UK's new build and decommissioning programmes.

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