Major business leaders join PM’s new Business Council to turbocharge economic growth
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Fourteen business leaders, from a range of sectors across the UK
economy, join the Prime Minister’s new Business Council
Council to discuss ways to boost investment, innovation, and access
to skills and talent Business Council to support the
delivery of the Prime Minister’s priority to grow the economy and
make the UK the best place to do business A new
business council has been appointed by the Prime Minister to report
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A new business council has been appointed by the Prime Minister to report from the business frontlines as the Government continues to boost stability and growth in the UK economy. Chief Executives from AstraZeneca, NatWest Group and BAE Systems are among the fourteen business leaders joining the council, alongside SSE, Google Deepmind, Sainsbury’s and Vodafone. Other companies represented on the council include GSK, Aviva, Shell, Sage, Taylor Wimpey, Diageo and Barclays. These leaders are recognised as trusted experts in their respective fields and are in charge of some of the country’s biggest employers in strategically important industries for UK growth – from construction, life-sciences and tech to financial services and energy. Together, they employ around 330,000 people across the country, with an even greater reach throughout their supply chain and a presence globally too. Thanks to the Government’s plans, the UK economy is set to grow instead of fall into a recession and inflation is expected to substantially reduce by the end of the year. Ensuring the UK is the best place in the world to do business, now and in the future, will be crucial to making continued progress on growing the economy. The newly appointed Business Council will be a forum to bring a real-world perspective on how the current economic climate is impacting business and how government and industry can work together to boost investment and innovation, drive productivity and create highly skilled jobs. Prime Minister Rishi Sunak said: “The more businesses innovate and invest, the more we grow and create good jobs right across the country. “I look forward to hearing first-hand from business leaders about how we can break down the barriers they face and unlock new opportunities for them to thrive. “My new Business Council is one of the many ways we are making the UK the best place to do business and invest, so we can future-proof and grow our economy.” The Council will meet today (18 July) in Downing Street, chaired by the Prime Minister. It will be followed by a reception for around 100 businesses to celebrate British enterprise. The UK is open for business and an attractive place to invest, with a competitive business environment that stimulates growth. This is driven by policies like full-expensing – an effective corporation tax cut of £9 billion a year for UK businesses – and the lowest corporation tax in the G7, whilst reducing red-tape and investing billions in government funding such as in R&D. According to EY’s global attractiveness survey of CEOs, the UK is the most attractive investment destination in Europe. AstraZeneca CEO Pascal Soriot: “The private sector has a vital role to play working with government and society to build a sustainable economy. I look forward to productive discussions on matters affecting the UK’s growth agenda and efforts to truly become a global science superpower creating high value enterprises, jobs and advancing the UK’s global net zero ambitions.” BAE Systems CEO Charles Woodburn: “It’s more important than ever that government and industry work closely together and as one of the UK’s largest employers, playing a key role in supporting national security as well as economic prosperity, I’m looking forward to discussing how we can help drive growth and attract investment into the UK as part of the new Business Council.” SSE CEO Alistair Phillips-Davies: “As somebody committed to ensuring that the UK is one of the easiest places in the world for low carbon investment, with a vibrant economy that supports high quality jobs and entrepreneurial innovation, I look forward to contributing to business and government thinking and action as part of the Council.” GSK CEO Emma Walmsley: “I welcome the opportunity to join the Prime Minister’s Business Council. I look forward to discussing the steps business and Government can take to strengthen the UK economy - harnessing science and new technologies, from AI to vaccines innovation, to boost UK productivity and investment, and unlock economic growth.” Google DeepMind CEO Demis Hassabis: "The UK's world-class strengths in science and technology, including AI, are key to boosting innovation and tackling the biggest challenges we face as a country. I'm pleased to join the Prime Minister's new Business Council and look forward to working with the Government and other industry leaders to maximise these opportunities." NatWest Group CEO Alison Rose: "Partnership between government and business is the cornerstone of a sustainable growth economy. That’s why I’m delighted to be part of the Prime Minister’s Business Council for 2023. Working together we can face into the nation’s challenges to unlock investment, drive enterprise, grasp the opportunity of climate transition and ultimately, help UK economy to thrive. " Sainsbury’s CEO Simon Roberts: “We serve millions of customers every day and as an industry we work with British farmers and food manufacturers to deliver the nation’s food system. We believe there are many opportunities to collaborate and support on a strong and resilient plan for the future." Barclays CEO C. S. Venkatakrishnan: "I am honoured to represent Barclays on the Prime Minister’s Business Council. As a leading player in global markets, Barclays is committed to supporting the Government in unlocking investment and harnessing innovation. Together, we seek to turbocharge sustainable economic growth and inclusive prosperity for the UK." Diageo CEO Debra Crew: “I welcome the opportunity to join the Prime Minister’s new Business Council. British businesses and Government have a shared responsibility in delivering prosperity, creating the conditions to encourage investment and international trade and tackling the big issues the country faces, from the cost of living to climate change.” Aviva CEO Amanda Blanc: “The UK faces a number of urgent challenges, such as climate change and the delivery of infrastructure across the country. I am keen to use this opportunity for Aviva to help shape the solutions.” Shell CEO Wael Sawan: “I am honoured to join the Prime Minister’s Business Council to help drive prosperity and growth in the UK, specifically through the provision of secure, affordable and cleaner energy. The economic and societal challenges we face today require candid collaboration between government and business to deliver the undoubted growth potential that we have in this country.” Vodafone CEO Margherita della Valle: “I am pleased to be joining the Business Council, an important forum to promote and support the global competitiveness of the UK. We have a vital part to play in the UK’s future, as our national communications infrastructure can help drive innovation and economic growth.” Taylor Wimpey CEO Jennie Daly: “I share the Business Council’s ambition of harnessing the power of the private sector to stimulate economic development and prosperity and to make our towns and villages across the country better places to live and work.” Sage CEO Steve Hare: “Small and mid-sized businesses play a critical role in powering the UK economy. Sage is proud to serve them as the UK’s biggest listed tech company, helping them to harness the power of technology to boost productivity and resilience. I look forward to bringing SMEs’ voice to the table as a member of the Business Council, capitalising on the UK’s opportunity to be a leading digital economy and drive economic growth.” Notes to editors
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