Prime Minister Boris Johnson this afternoon co-chaired the second meeting of the Build Back Better Business Council with the Chancellor.
Together with Business Secretary Kwasi Kwarteng and Trade Secretary Liz Truss, they set out how to drive forward the Plan for Growth as part of ambitions to make 2021 the year of economic recovery, and welcomed views from Council members on how businesses can help best deliver it.
They discussed the aims of the Plan for Growth, which is the Government’s longer-term growth strategy to unite and level up the country, support our transition to net zero by 2050, and cement our position as a Global Britain – backed by investment in infrastructure, skills and innovation. Its publication came alongside the recent Budget, which the Chancellor reiterated will get UK businesses back on their feet, help them grow and seize new opportunities as we build back better from the pandemic.
A key part of today’s Council meeting considered the innovation pillar of the Plan for Growth, as the Business Secretary set the direction for the Government’s upcoming Innovation Strategy, which is expected this Summer. They discussed the importance of investing in new ideas, products and processes, and with the right financial backing, how this will be key to delivering on priorities such as reaching our ambitious climate change targets.
Ahead of the meeting, the Chancellor and Business Secretary wrote an open letter to businesses on the Plan for Growth.