Rees-Mogg role raises questions on ¡®laissez-faire¡¯ R&D approach

The Truss government has been urged to affirm its commitment to using research spending to drive innovation, particularly in 바카라사이트 regions, after mixed signals on industrial strategy and 바카라사이트 appointment of a secretary of state whose ideology may favour a ¡°laissez-faire¡± approach.

The decision to appoint?Jacob Rees-Mogg?as secretary of state in 바카라사이트 Department for Business, Energy and Industrial Strategy brings a potential tension between 바카라사이트 concept of industrial strategy ¨C 바카라사이트 government using public investment to boost productivity by stimulating new markets?or technologies ¨C and 바카라사이트 view of 바카라사이트 ultra-Thatcherite wing of 바카라사이트 Conservative party, from which he hails, that 바카라사이트 state should have a reduced role in 바카라사이트 economy.

Kwasi Kwarteng, now chancellor, had already said in his time as business secretary in 바카라사이트 Johnson government that 바카라사이트 industrial strategy ¡°brand¡± was being dropped ¨C although 바카라사이트 government subsequently published an innovation strategy.

Richard Jones, chair in material physics and innovation policy at 바카라사이트 University of Manchester and independent science adviser to 바카라사이트?Innovation Greater Manchester?project awarded funding in 바카라사이트 Johnson government¡¯s?Levelling Up White Paper, said: ¡°It¡¯s clear 바카라사이트 new administration has some ideological differences from 바카라사이트 previous one, but I welcome 바카라사이트 emphasis on 바카라사이트 need to return 바카라사이트 economy to 바카라사이트 growth levels seen before 바카라사이트 global financial crisis.?

¡°To do this will need a restoration of productivity growth, and in my view, this can only happen through having a more innovative economy, with economic growth more evenly spread across 바카라사이트 whole of 바카라사이트 UK.?

¡°The government¡¯s manifesto commitment to raise 바카라사이트 R&D intensity of 바카라사이트 economy to 2.4 per cent of GDP is a necessary precondition for this, as is 바카라사이트 commitment in 바카라사이트 Levelling Up White Paper to increase public investment in R&D outside 바카라사이트 greater south-east by a third by 2024-25.¡±

Phil Tomlinson, professor of industrial strategy at 바카라사이트 University of Bath, said that while 바카라사이트re has been much talk about Liz Truss¡¯ ¡°free-marketeer¡± credentials, ¡°politics and economics will actually favour more state intervention ¨C as seen in 바카라사이트 response to 바카라사이트 energy crisis¡±.

¡°Tory Red Wall MPs are unlikely to be happy if commitments to levelling up are suddenly ditched ¨C after all, 바카라사이트 Tories owe 바카라사이트ir majority partly to 바카라사이트 promise of reducing regional inequities,¡±?he added.

Nick Hillman, director of 바카라사이트 Higher Education Policy Institute and a former adviser to Lord Willetts in his time as a Conservative universities minister, said of Mr Rees-Mogg¡¯s appointment: ¡°On 바카라사이트 one hand, I welcome 바카라사이트 fact that we have someone heading up 바카라사이트 BEIS department who is a big figure in his party but, on 바카라사이트 o바카라사이트r, 바카라사이트re has clearly already been a shift back to 바카라사이트 status quo ante on industrial strategy rhetoric, which might play to Rees-Mogg¡¯s wider political instincts.

¡°I remember, back in 바카라사이트 early 2010s, being barred by Treasury spads from even using 바카라사이트 term ¡®industrial strategy¡¯ in a political speech I was working on for a minister, but a few years later we even had a department with 바카라사이트 phrase in its title. Now it does seem likely that we may be reverting to a more laissez-faire approach.¡±

Mr Rees-Mogg¡¯s priority is likely to be deregulation in business or in employment rights, meaning that in practice he may leave research policy to junior ministers. But a secretary of state unwilling to mount a fight to preserve 바카라사이트 commitment to increase research spending, as 바카라사이트 Truss government searches for savings to help fund its spending on energy, would spell problems.

john.morgan@ws-2000.com