Industrial Strategy

Debate between Lord Prior of Brampton and Lord Kinnock

Wednesday 19th July 2017 Lords Chamber

[Lord Prior of Brampton]

I agree with my noble friend that competition is essential to drive improvement and progress. It is also important that government, industry and academia/universities work together very closely.

[Lord Kinnock (Lab)]

My Lords, does the Minister recall that at the time of the publication of the Green Paper on industrial strategy there was considerable disappointment, which was entirely justified, at the scant mention of steel—indeed, it appeared once, on page 96? Can he give us an undertaking now that in the forthcoming White Paper there will be a cogent and effective strategy for steel to uphold the interests and competitiveness of this crucial foundation industry?

[Lord Prior of Brampton]

Steel is clearly a very important part of any industrial strategy, but I should make it absolutely clear to the noble Lord that this strategy is about the future and not just about incumbents. While there is an important future for steel, there is also the whole new world of digital technologies, which are also very important.