This report tracks the development of the Industrial Strategy of the United Kingdom, from its publication in 2017 through to the period following the coronavirus disease (COVID-19) pandemic. Using information from official policy documents, grey literature and academic publications —as well as conversations with experts— this document provides an overview of the Strategy’s rationales and objectives and of the instruments adopted under it. The report also discusses implementation challenges and presents lessons for the future design and implementation of industrial strategies. Following the withdrawal of the United Kingdom from the European Union and in the context of debates over the country’s role in the global economy, the situation in the United Kingdom presents an opportunity for an interesting case study. This document highlights how the comprehensive Industrial Strategy shifts from a primarily economic focus to a more balanced approach, in which societal challenges and strategic objectives figure more prominently. It also underscores disconnections between policy and academic thinking with regard to rationales, and the challenges of discontinuity in the design and evaluation of the policies implemented. The findings point to opportunities to improve the design, long-term planning and holistic evaluation of industrial strategies.