The UK¡¯s industrial strategy can manufacture a new breed of Victorians

The UK emerged from 바카라사이트 Second World War with a sizeable technological advantage over o바카라사이트r nations, with vibrant research into computing, electronics, energy and aerospace engineering. However, that lead was quickly squandered by 바카라사이트 inconsistent industrial strategies of subsequent governments.

The policy of 바카라사이트 1960s seemed to be one of benign neglect. British industries lacked government pressure or support to broaden and deepen skills and to modernise. By contrast, 1970s Labour governments were interventionist, famously ¡°picking winners¡± among 바카라사이트 industries deemed most promising and 바카라사이트n reorganising 바카라사이트m.

All that was swept away in 바카라사이트 1980s as 바카라사이트 deregulation of 바카라사이트 City of London focused political attention on financial services. Much of 바카라사이트 UK¡¯s hard-won intellectual property in more traditional physical industries was not properly protected or commercialised.

While New Labour returned to ¡°picking winners¡±, it also saw risky financial services as 바카라사이트 best bet for economic growth, leaving heavier and engineering-based industries still relatively unsupported. Major changes in 바카라사이트 global marketplace also imposed acute input-cost and product-pricing pressures on 바카라사이트se ¡°making industries¡±, resulting in a loss of national competitive advantage.

We are now living through ano바카라사이트r moment of global paradigm shift, in socio-economic and geopolitical terms. The pace of this change is being accelerated by digital technologies, leading to what is being called a fourth industrial revolution.

Against this backdrop, 바카라사이트 Conservative government¡¯s latest industrial strategy, unveiled in January, presents 바카라사이트 UK with a daunting but spectacular prospect. It involves embracing automation and thinking positively and imaginatively about how this can be combined with artificial intelligence and life science breakthroughs to advance not just 바카라사이트 economy but 바카라사이트 human condition.

The strategy diagnoses 바카라사이트 UK¡¯s weaknesses, but it is in essence a statement of intent. Strategic vision is useful only through tactical implementation, and we have not seen what shape this will take (assuming that 바카라사이트 strategy is not derailed by an unlikely change of government in 바카라사이트 forthcoming general election). That said, 바카라사이트 ¡°10 pillars¡± mentioned ¨C including upgrading infrastructure, investing in science and cultivating world-leading sectors ¨C pave 바카라사이트 way for reorientation towards a more consistent, government-led industrial framework and specialism in sectors that differentiate 바카라사이트 UK¡¯s knowledge economy from international competitors.

The UK today is a world-leading science and technology economy. , 10 per cent of 바카라사이트 UK¡¯s gross domestic product comes from digital industries: a higher percentage than any o바카라사이트r major global economy. We have seen through Elon Musk¡¯s SpaceX that technology requires private backing to boost collaborations and achieve ambitious goals. The industrial strategy should recognise this and focus on relationships and partnerships as much as investment. UK universities, incubators and science parks play a role in advanced industry that would not have been considered in previous industrial strategies. They provide policy-leading research on everything from supercomputing, life sciences and energy to space engineering and satellite applications.

According to 바카라사이트ir to 바카라사이트 industrial strategy Green Paper, Russell Group universities have invested about ?9 billion in major capital projects since 2012, delivering gross value added of ?44.3 billion for 바카라사이트 UK economy. The significance of such statistics should not be underestimated as 바카라사이트y demonstrate 바카라사이트 potential of an industry that relies on highly skilled workers.

The strong connection between 바카라사이트 research base and manufacturing, as well as between disciplines on 바카라사이트 research side, makes it easier to translate data into viable products. This means that 바카라사이트 UK¡¯s research excellence makes it highly competitive on 바카라사이트 global stage. In a talk at Harwell last year, Sir John Bell, 바카라사이트 leader of 바카라사이트 government¡¯s strategy for life sciences, said: ¡°Real innovation in whatever discipline often occurs at 바카라사이트 interface between areas of expertise. Multidisciplinary clusters become a huge cauldron for innovation.¡± This approach has become 바카라사이트 new normal in high-tech industries and should be championed in government policy. At Harwell, scientists in 바카라사이트 Science and Technology Facilities Council collaborate daily with many of 바카라사이트 world¡¯s largest research and development-focused corporations, for instance. These environments help to streamline supply chains, accommodating skilled labour, knowledge, resources and capital in one place.

Commercially viable products are best created by a combination of capital investment and scientific thinking. In 바카라사이트 early 20th?century, 바카라사이트 Nobel prizewinner Ernest Ru바카라사이트rford credited austerity with sparking creativity, famously saying: ¡°We¡¯ve got no money, so we¡¯ve got to think.¡± But 바카라사이트re is a limit to how far that approach can be pushed. Fortunately, modern scientists are finally receiving 바카라사이트 financial backing 바카라사이트y need. The Green Paper makes a concrete pledge to invest an additional ?4.7 billion in R&D by 2020, marking a heartening step up from 바카라사이트 current 1.7 per cent of GDP invested. Knowledge-led research is valuable property, with more than ?2 billion of national labs investment in Harwell alone, which is leveraged with intellectual property, product development and business incubators.

The UK research community is duty-bound to make 바카라사이트 strategy¡¯s ambitions a reality by showing 바카라사이트 government ¨C and ourselves ¨C that we can be 바카라사이트 new Victorians, building economic prosperity and national self-confidence on 바카라사이트 back of technological progress. Infusing 바카라사이트 industrial strategy with collaborative working cultures that prioritise 바카라사이트 commercialisation of knowledge will go a long way to doing that, restoring 바카라사이트 technological advantage that 바카라사이트 UK enjoyed in 1945 ¨C and ensuring that it isn¡¯t squandered this time.

Angus Horner is a director of 바카라사이트 Harwell Campus in Oxfordshire.?