A new report launched by Policy Exchange today warns the Government against entering into a subsidy race with other industrial nations – and cautions that the world risks sliding into protectionism.  

In a comprehensive review of UK Industrial Policy, Sir Geoffrey Owen, former Editor of the Financial Times and Head of Industrial Policy at Policy Exchange, charts the erratic history of British industrial policy – and recommends a consistent and predictable set of policies on which the business community and investors can rely. 

The report is backed by Conservative, Labour and Liberal Democrat – all three of the UK’s major political parties.