2024 Business Council launched

From: 10 Downing Street
Published: Wed Jan 31 2024

The Prime Minister launches this year's Business Council today (31st January) and will meet with members throughout the year to discuss economic growth.

  • PM to receive intelligence from the vanguard of business.
  • Some of the biggest names from across UK business - from FTSE 100 companies to SMEs - to help drive the Government's growth agenda.
  • Builds on a banner year for investment in UK plc.

The Prime Minister launches this year's Business Council today (31st January) and will meet with members throughout the year to discuss economic growth.

The council will have a regular meeting with the Prime Minister in Downing Street to share intelligence directly from the shop floor to help boost the UK economy and create jobs. The first meeting will take place next month.

It includes Chief Executives from:

  • BT Group
  • Nationwide
  • Unilever
  • Rolls-Royce
  • Scottish Power
  • Almac Group
  • Barratt Developments
  • ITV
  • Lloyds Bank
  • OMass Therapeutics
  • Raspberry PI
  • Principality Building Society
  • Informed Solutions
  • Castore
  • Greggs

These firms account for over 200,000 employees from across the United Kingdom, and are intrinsic to the success of this nation, whether this be the delivery of critical infrastructure, the development of new homes, or the production of aircraft engines.

This year's Business Council builds on the economic success of 2023, which saw the Government stabilise the economy, cut inflation in half, and deliver the biggest business tax cut in modern British history - worth over £50 billion over the next five years.

The Prime Minister, Rishi Sunak, said:

Coming from a small business family, I know how integral business is to communities and the wider economy.

Without the jobs, growth, and innovation created by UK firms, the country simply wouldn't function.

That's why I'm getting businesses in for a regular update on how well we are doing in delivering for business - straight from the shop floor.

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.

The Minister for Enterprise, Markets & Small Business, Kevin Hollinrake, and the PM's Special Advisor on Business & Investment, Franck Petitgas, will also host quarterly meetings in Downing Street with small business representative groups to ensure the Government hears from a broad range of SMEs, in addition to those that sit on the Council.

This year's Council will continue to provide insights on how we ensure the UK remains a great place to invest; as evidenced by the bumper investments that landed in 2023:

  • Tata Group's £4bn UK gigafactory
  • BMW's £600m commitment to develop electrical vehicle production in the UK
  • Nissan's £2bn to support two new electric vehicle models in Sunderland
  • Microsoft's £2.5bn investment in AI infrastructure
  • The Global Investment Summit where £29.5bn of investment was committed to the UK
  • The Chancellor's Autumn Statement that will drive £20 billion more business investment per year by the end of the decade

Debbie Crosbie, CEO of Nationwide said:

Business and government have a common interest in strong economic growth. It releases investment for communities, funds improvements in public services, and inspires innovation. I'm delighted to work with the Prime Minister's 2024 Business Council on new growth strategies and to keep the UK competitive.

Tufan Erginbilgic, CEO of Rolls-Royce said:

Rolls-Royce welcomes the opportunity to continue its ongoing dialogue with Government, building partnerships between business and politics to promote growth in the UK economy.

Keith Anderson, CEO of ScottishPower said:

The Prime Minister has set out clear ambitions to significantly speed up investments in the critical infrastructure we need to deliver energy security and decarbonisation. From clean homegrown energy to modern electricity networks, ScottishPower has a £12bn plan to invest at record levels to help make these ambitions a reality - creating the conditions for wider economic growth in the UK and unlocking skills and capabilities right across the domestic supply chain and in communities throughout the whole country.

David Thomas, CEO of Barratt Developments said:

I welcome the chance to join the Prime Minister's 2024 Business Council, the opportunity to share the challenges faced by all housebuilders and discuss solutions for a vital sector which provides the new sustainable homes the country needs and is a powerful driver of economic growth across the UK.

Carolyn McCall, CEO of ITV said:

ITV is a global company but one that remains firmly rooted in the UK - around half of our UK employees live and work outside of London in news teams and production bases across our nations and regions. That's why I want to work with the Government to create the right economic platform and incentives to encourage businesses to increase investment and economic activity across the UK, particularly in the development of skills and talent.

Ros Deegan, CEO of OMass Therapeutics said:

Given healthcare and scientific innovation is so strong and important to the United Kingdom, I am excited to accept this invitation and look forward to working with the Government and contributing to discussions around our scale up economy.

Elizabeth Vega, CEO of Informed Solutions said:

It is an honour to join the Prime Minister's 2024 Business Council and help shape ambitious and dynamic policy that energises and sustains growth, productivity, international trade, and job opportunities across the UK. The UK needs great businesses with a growth, skills, innovation, and productivity mindset - from small to medium and large enterprises - to build a strong, resilient, and internationally competitive economy.

Thomas Beahon, CEO of Castore said:

It is a real honour to be joining the Prime Minister's 2024 Business Council. I look forward to working with the PM and other business leaders from across the UK and making a positive contribution to country's long term economic growth priorities with a particular focus on brining my experiences of starting and growing a business in the North of England.

Eben Upton, CEO of Raspberry Pi said:

At Raspberry Pi, we design computers and semiconductors, while our parent organisation, the Raspberry Pi Foundation, works to get young people excited about computing and electronics. I'm delighted to join the Prime Minister's 2024 Business Council, and look forward to sharing perspectives on the needs of design and manufacturing companies in the UK high-tech ecosystem, and the opportunities for even greater focus on STEM skills in the school, further and continuing education sectors.

Company: 10 Downing Street

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