Greater Manchester Combined Authority (GMCA) and the UK Government have agreed to work together to develop one of the country's first modern local industrial strategies. The Greater Manchester Local Industrial Strategy will outline a set of long-term policy priorities to help guide industrial development and provide a joint plan for good jobs and growth in Greater Manchester. GMCA and the Government wish to co-design the Strategy with business, the community, the voluntary and social enterprise (CVSE) sector and citizens. For the Strategy to be a success it must be a collaborative plan that builds on the productive approach taken to create Our People, Our Place - the Greater Manchester Strategy.
Share your views on the consultation here: https://www.gmconsult.org/strategy-team/jobs-and-growth/ and download the consultation document here.
In Autumn 2017, the UK Government published an Industrial Strategy White Paper which identifies five foundations of productivity - Ideas, People, Infrastructure, Business Environment and Places - which are the essential attributes of successful economies and societies and form the basis around which the Industrial Strategy is structured. The Strategy also identifies four grand challenges - AI & Data Economy, Clean Growth, Future of Mobility, and Ageing Society- which will shape the UK's economic future and must be embraced to ensure all the opportunities that they present are harnessed.
A central feature of the national industrial strategy is the importance of place and the need for local industrial strategies to bring together the five foundations of productivity and the four grand challenges if the UK is to raise productivity, earnings and wellbeing, locally and nationally.
GMCA's commitment to basing strategic choices on the highest quality evidence available has been re-affirmed by the establishment of the Greater Manchester Independent Prosperity Review. The Review is being led by a panel of independent experts chaired by Professor Diane Coyle (Bennett Professor of Public Policy, University of Cambridge). The other members of the panel are:
Professor Ed Glaeser (Professor of Economics, Harvard University)
Stephanie Flanders (Head of Bloomberg Economics)
Professor Henry Overman (Professor of Economic Geography, London School of Economics)
Professor Mariana Mazzucato (Professor in the Economics of Innovation, University College London)
Darra Singh (Government & Public Sector Lead at EY)
The Panel is tasked with scrutinising Greater Manchester's existing evidence base and overseeing the commissioning of new research that can fill key gaps in understanding. This approach will ensure that the Local Industrial Strategy is underpinned by a strong understanding of the foundations of productivity, and the drivers of increased prosperity, across Greater Manchester. The Panel has identified a number of priority areas in which existing knowledge and intelligence needs to be improved. These are being explored through research projects focusing on:
The following reports from the Independent Prosperity Review are now available: