Top executives from some of the UK’s most prominent companies were given an update on his assessment of the economic and trade landscape ahead of October’s Budget.
The council also quizzed him on a wide range of issues from infrastructure spending and planning to the Government’s Making Work Pay proposals and workforce wellbeing.
The meeting, held at the headquarters of Intuit, was the first to be held with a senior minister from the new Government since the General Election. It was the Business Secretary’s second briefing with the council, having attended earlier this year as Shadow Business Secretary.
In the run up to the election, the BCC’s Future of the Economy manifesto had set out 149 policy recommendations across five key challenges it had identified were facing the country. More than half of these were adopted in the Labour Party manifesto.
The meeting was also a chance for the BCC to update on progress across the five challenges, which cover green innovation, people and work, global Britain, the digital revolution and local economies.
The BCC is now starting work, with the Business Council, on a series of follow up reports to ensure firms have the best chance possible to thrive and grow.
“The economy has got off to a strong start in 2024 and business confidence has been on the rise, but momentum is not guaranteed.
“Firms desperately want the Government to achieve its aim of securing the highest sustained growth in the G7, but they know that will take more than wishful thinking.
“We need a partnership approach to finding the answers to the key issues holding us back, including increased trade and investment with the world’s major economies.
“Many of the key building blocks are being moved into place but the Government’s first budget must nurture growth and give firms more reason to be optimistic.”
“Growing the UK economy is this Government’s driving mission, and working with the BCC’s Business Council is crucial to achieving that. From delivering a new industrial strategy to supporting workers’ rights to cutting trade barriers – we will always listen and work with industry in partnership.
“Only by working together with business can we grow the economy, boost exports and help big and small firms across the country to thrive.”
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