New initiative launched to boost nation’s economy
FORMER international trade secretary Liam Fox and business leaders from some of the UK’s biggest companies have launched an initiative aimed at boosting Britain’s economic growth.
The Global Britain Commission is a one-year project that will study what businesses need from the Government to boost exports and work out where the country’s future trading markets will be.
The commission is made up of senior leaders from the corporate world, including Virgin Atlantic, Heathrow, EY, Mace and Forth Ports.
According to the North Somerset MP, the group will create a blueprint on how to deliver a stronger and more resilient economy, and in the process create jobs and level up Britain.
It will work with policy and trade experts, professional services and legal departments, ports and industry to achieve its aims. Dr Fox said the group would put forward practical policy suggestions, based on the latest data, analytics insights and modelling.
“We must ensure that everyone is able to benefit from capitalism, and governments can play their part by maintaining financial stability, open markets, and low taxes,” Dr Fox wrote in the Daily Telegraph.
“It is imperative that our Government defends the UK’s position as an attractive place for firms to grow, free from the shackles of overburdensome regulation and taxation.”
Dr Fox said the commission would also help deliver the Government’s flagship ‘Global Britain’ agenda and was “crucial” in the year that Britain hosted the G7, COP26 and the D10 group of democratic nations.
“As the UK cements its position in the competitive global economy outside the EU and recovers from the Covid-19 pandemic, now is the time to focus on our strengths and comparative advantages to ensure maximum returns for the UK in the future,” he said. “The prize is great if we can get this right. If the Government, with the help of willing partners in the best of UK commerce, can define what Global Britain truly means, then we can be an unstoppable economic force for good in the world.”