‘Recovery Roundtables’ Launched for Economic Bounce-Back
Key Contact: Natalie Jones
Author: Joe Smith
On 8 June 2020, the Government announced that a number of working groups have been launched this week in the hope of providing a strategy for the bounce-back of business and economic growth.
The Business Secretary Alok Sharma, who is responsible for heading these groups, has explained that there will be a total of five working groups, each made up of around 20-25 participants. Each working group will consider on how economic growth can be revitalised through five key focus areas.
According to the Government, the focus areas that the working groups will explore are: –
- The future of industry: How to accelerate business innovation and leverage private sector investment in research and development
- Green recovery: How to capture economic growth opportunities from the shift to net zero carbon emissions
- Backing new businesses: How to make the UK the best place in the world to start and scale a business
- Increasing opportunity: How to level up economic performance across the UK, including through skills and apprenticeships
- The UK open for business: How to win and retain more high value investment for the UK
The membership of the five working groups has not yet been published by the Government, although it has confirmed that the Secretary of State will chair the groups. It will also offer individuals and those interested in the initiative to produce written submissions to the working groups, and this will hopefully allow business to share their points of view and experiences.
The working groups will not only look at the short terms solutions on opening up business sectors which have shut down due to the pandemic, but will also look towards the medium and longer term, with increased jobs and a greener economy being listed as key aims of the bounce-back. The working groups will also look at economic growth and business growth from a national and international perspective.
For more information on any of the topics raised, please get in touch with our Corporate Team.