New business coalition aims to tackle poor UK productivity

British Land, Microsoft and Vodafone are among the many backers of a brand new enterprise coalition that can launch this week with the intention of tackling the UK’s perennially weak productiveness.

Sky News understands that the trio, together with Churchill Retirement Living, NHBC and Pension Insurance Corporation, are among the many founding members of the Building Back Britain Commission (BBBC).

The group will probably be formally launched on Monday night at an occasion attended by Labour’s shadow enterprise secretary, Jonathan Reynolds.

It will probably be suggested by Claire Ainsley, Sir Keir Starmer’s former coverage chief.

People near the group stated it will search to attract up a progress blueprint to be offered to the subsequent authorities after this yr’s common election.

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Its premise will probably be {that a} trendy industrial technique ought to goal the eradication of Britain’s substantial regional disparities in financial progress and productiveness.

Among the BBBC’s workstreams will probably be to determine boundaries confronted by native areas to attracting and retaining staff, and an examination of the vary and high quality of housing, transport and digital infrastructure throughout the nation.

It can even assess the underlying drivers of productiveness similar to academic attainment, well being outcomes and technological capabilities in native areas.

The BBBC’s launch will come lower than 48 hours earlier than a Budget by which the chancellor, Jeremy Hunt, will discover his means to announce tax cuts constrained by deteriorating official progress forecasts.

The secretariat for the BBBC will probably be run by WPI Strategy, which carried out an identical position for the Covid Recovery Commission in 2021.

Source: information.sky.com”