Economic Strategy programme
- Departments
- Policy, International
- Programme status
- Ongoing
Aims
The British Academy’s Economic Strategy Programme is an independent policy programme that seeks answers to the question:
“What are the critical elements of an integrated, holistic and sustainable strategic approach to the UK economy, given current and developing national and international contexts?”
The programme was established in response to an initial workshop that brought together senior civil servants in His Majesty’s Treasury and the Department for Business and Trade.
It began in mid-2023, after some of the world’s largest economies were making major, long-term inward investments in R&D, net zero infrastructure, and national industrial bases, but has completed in early 2025, in a period of deep international, economic and geopolitical unrest.
Activities
An economic strategy requires long-term, integrated thinking across disciplines, sectors and policy areas. Four Working Groups explored the following areas in detail:
- International trade and geopolitics
- R&D and innovation
- Skills
- Sustainability and social value.
Taken together, these four pillars provide the basis for the long-term and holistic thinking needed for a strategic outlook for the economy.
See below the main publications from this programme. Further supporting materials can be found in our evidence hub.
Publications
A new strategic narrative for British trade in turbulent times
To navigate the US-China geostrategic rivalry and an increasingly turbulent international environment, this paper argues that the UK should position itself as a dependable and imaginative broker, both within existing international institutions, where it continues to maintain outsized leverage, and with emerging coalitions in Europe and the Global South.
Trade in an uncertain world: deep advantages and nimble responses
To respond dynamically to structural transformation in the global economy, the UK must invest in the institutional, human and physical capital that makes a place ‘investable’ for the private sector. This in turn boosts trade and productivity. This paper argues for targeted investment in public and private knowledge-based institutions and their connective tissue with cities' business and skills networks.
Generating coherent and effective R&D and innovation policies
Given the important role innovation plays in productivity growth, policies to support R&D, technology and innovation are vital components of any effective economic strategy. This paper outlines five components to address what the UK government can do to better utilise and leverage the potential of R&D and innovation to improve economic outcomes in the long-term.
A joined-up approach to UK skills policy
The UK requires a joined-up approach to skills policy that considers the needs of learners, workers and businesses, is adaptable to changes in technology and the economy, and is flexible to local needs. Careful improvements to the skills system can enable people to develop new skills throughout their lives, as well as better trajectories for young people in post-secondary and tertiary education.
The importance of social investment for UK economic strategy
The UK’s economic, social and environmental systems are deeply interconnected. Policymakers have an opportunity to make these interconnections the basis of a long-term, holistic economic strategy, in which investments in health, education, wellbeing and social cohesion provide are a powerful foundation to improve the nation’s economic performance.
