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Sector deals alone will not solve productivity challenge, MPs say

The government must ensure that sector deals are properly funded if they are to make a significant contribution towards raising Britain’s productivity, MPs have warned.

The sector deals struck between government and businesses to grow industries deemed crucial for the UK economy are not helping to prevent companies such as Honda, Nissan and Dyson from cancelling projects or taking jobs elsewhere. This is one of the conclusions of a report published by the House of Commons Business, Energy and Industrial Strategy Committee, which calls on the government to ensure funding commitments made under these deals are met.

Over the past couple of years the government has announced 10 sector deals in areas including the life sciences, artificial intelligence, creative industries, automotive industries, aerospace, offshore wind and construction. The deals outline set goals for each sector and plans to achieve them, including R&D commitments.

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