Industrial strategy goes to the heart of the debate about the future of a modern Europe. The extent to which governments can, should or must intervene in the affairs of industry continues to take centre stage in discussions about the future of the European project.

In the UK, government intervention was an accepted part of the post war economic consensus, which lasted until 1979. In that year, Margaret Thatcher adopted a laissez faire approach to industrial matters, arguing that the role of government should be kept to a minimum. Politicians, so the argument went, are not good at spotting which industries or businesses will be most successful, or most economically important, in the future.

TUC Economic and Social Affairs Department

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