I wrote an article on Industrial Policy which was published in Chartist Magazine. In the article, I try to describe the white paper, and probably my conclusion is best summarised with this quote, which I lifted from an article in this blog,
The big unasked question is whether investment/innovation industrial policies can work. Some economists including Meadway, Graeber, Dillow and Edgerton question the effectiveness of industrial policy, especially that aimed at innovation and start-ups, not least because of the need to combat climate change. Meadway & Graeber argue that the climate crisis is or should be changing the nature of the questions of economics. Dillow argues that the multiplier effect of investment is low and that identifying the successful future is too hard. Edgerton argues that the goal of policy should be a better life, not more jobs and that investment needs to be directed at health and education, both of which can offer comparative advantage.
I also comment in my review of the Autumn statement.