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BenQ Lighting

Why The UK Industrial Strategy Needs A Place-Based Approach

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
By adopting a place-based approach, the UK government can create a resilient and equitable industrial strategy that drives innovation and sustainable growth.
The article by Dr. Kath Mackay on Forbes discusses the necessity of adopting a place-based approach in the UK's industrial strategy to address regional disparities and promote sustainable economic growth. It highlights how traditional, centralized economic policies have often overlooked the unique needs and potentials of different regions, leading to uneven development. The piece argues for a strategy that recognizes the distinct economic, social, and environmental characteristics of various locales, tailoring interventions to leverage local strengths, foster innovation, and enhance community involvement. This approach not only aims to reduce regional inequalities but also to build resilience against economic shocks by diversifying local economies. The article emphasizes the importance of local leadership, collaboration between public, private, and third sectors, and the integration of local knowledge into policy-making to ensure that economic strategies are both effective and inclusive.

Read the Full Forbes Article at:
[ https://www.forbes.com/sites/drkathmackay/2024/12/03/why-the-uk-industrial-strategy-needs-a-place-based-approach/ ]