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

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 Banking Group
• OMass Therapeutics
• Raspberry PI
• Principality Building Society
• Informed Solutions聽
• 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鈥檚 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 拢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鈥檛 function.

That鈥檚 why I鈥檓 getting businesses in for a regular update on how well we are doing in delivering for business 鈥� 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鈥檚 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鈥檚 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鈥檚 拢4bn UK gigafactory
• BMW鈥檚 拢600m commitment to聽develop electrical vehicle production in the UK
• Nissan鈥檚 拢2bn to support two new electric vehicle models in Sunderland
• Microsoft鈥檚 拢2.5bn investment in AI infrastructure
• The Global Investment Summit where 拢29.5bn of investment was committed to the UK
• The Chancellor鈥檚 Autumn Statement that will drive 拢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鈥檓 delighted to work with the Prime Minister鈥檚 2024 Business Council on new growth strategies and to keep the UK competitive.

Tufan Erginbilgic, CEO of Rolls-Royce said:聽

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:聽

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 拢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:聽

I welcome the chance to join the Prime Minister鈥檚 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 鈥� around half of our UK employees live and work outside of London in news teams and production bases across our nations and regions.聽 That鈥檚 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聽said:聽

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.聽

Elizabeth Vega, CEO of Informed Solutions聽said:

It is an honour to join the Prime Minister鈥檚 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聽said:

It is a real honour to be joining the Prime Minister鈥檚 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 the country鈥檚 long term economic growth priorities with a particular focus on bringing 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,鈥痶he Raspberry Pi Foundation, works to鈥痝et young people excited about computing and electronics. I鈥檓 delighted to join the Prime Minister鈥檚 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.

Julie-Ann Haines, CEO of Principality Building Society said:聽

I welcome the opportunity to sit on the Prime Minister鈥檚 2024 Business Council and am proud there is representation from Wales and the mutual sector, bringing diversity of thought to the table. Housing and financial stability is critical to building a strong balanced economy which supports our communities and our mission to provide better homes, secure futures and a fairer society will be at the heart of the discussions.