A Critical Review of the UK’s Modern Industrial Strategy: Lessons for ‘Place-Based’ Policy

The paper explores the implications for regional development contained within the recently launched UK’s Modern Industrial Strategy (2025). We critically examine the industrial strategy’s core themes (sectors, business environment (investment, skills, innovation), place, partnerships and institutions) and consider the extent to which the strategy matches its claim to be ‘place-based’. By identifying weaknesses in the strategy, we highlight the challenges in designing a ‘place-based’ strategy within a highly centralised economy, with under-powered, fragmented regional governance structures. We offer policy suggestions to facilitate a more co-ordinated, holistic UK industrial strategy framework, while contributing to international debates on place-based policy more broadly.