Priorities of the Business and Trade Committee

1 Introduction

Background

1. The Business and Trade Committee wants to re-shape the way Parliament works together with business, trade unions and consumer groups. The Committee therefore commenced its work in this Parliament with a national programme of engagement to discover views on how our country can achieve the goal of delivering the highest sustained growth in the G7.¹ In so doing we have begun to create a shared space for the British business community, trade unions, consumer groups, academics and Parliamentarians to consider the immediate and longer-term shifts needed to deliver faster growth of the UK economy.

2. At the inquiry’s launch, Chair Rt Hon. Liam Byrne MP said:

How do we turn the big goals the Government has set out into a better bottom line for business? Our goal is to hear from hundreds of business voices around the country about the big issues that are getting in the way of their success.

Their success is the foundation of the national growth that will build a better future for the country. It is what will lift living standards, raise wages, boost productivity, and pay for our pensions and NHS of the future.

Local, national, large or small—UK business and workers are the drivers in the UK’s growth mission and this is a key opportunity for our stakeholders to influence the policy debate.

3. The engagement programme consisted of four parts:

a. An oral evidence session on 26 November 2024 with the Secretary of State, the Rt Hon Jonathan Reynolds MP on the work of the Department;

b. Six regional roundtable events in Exeter, Cardiff, Oxford, Warwick University, Manchester and Glasgow in the week commencing 2 December;

c. A one-day conference held in Westminster on 12 December; and

d. An online survey to a capture a diverse range of views from organisations and individuals from all over the UK.

2 The Priorities of the Department for Business and Trade

Work of the Department: Oral evidence session with the Secretary of State

4. We invited the Secretary of State for Business and Trade, the Rt Hon. Jonathan Reynolds MP, to appear before the Committee on 26 November 2024. At the beginning of this evidence session, we asked the Secretary of State how his Department will help deliver the fastest growth in the G7. The Secretary of State replied:

…every bit of my Department’s work is based around that growth mission. The work that we do is not the totality of the growth mission—of course, that covers all of Government—but the specific workstreams that are directly relevant to that are, first, the creation of a cross-Government industrial strategy, which has to cover all of Government but is led by this Department.

Secondly, the plan for small business covers a whole range of particular policy issues within the Department. Things like late payment and the announcements already made on that are part of it, but there is also an aspiration to co-ordinate the wider impact of Government policy on small business across Whitehall. The retail crime announcements in the Budget are very much part of that.

The third is the trade strategy, linking together not just the work on the free trade agreements and the negotiations taking place, but, of course, trade facilitation. Fundamentally, it is about getting more British businesses exporting.

Fourthly, specifically, is the plan to make work pay—the employment rights package of what we call the new deal for working people. I would ask you to think of those four workstreams as the forward-looking offer and the fundamental changes that we are trying to make as a Department. Of course, you will all know that alongside that there are a whole range of issues that we have to deal with on a daily basis—things that transpire and come up, whether that is in the steel industry, shipbuilding or the automotive sector today, which are all done through the lens of that growth mission.²

5. At the conclusion of the session, we asked the Secretary of State on which big areas the Committee should focus, and add most value to, through our scrutiny work. The Secretary of State made recommendations around the following themes:

a. Industrial Strategy—making sure that it “is everything it could be”;

b. Regulation—“how you regulate for growth rather than regulating in such a way that you take out risk because you are not doing the activity that you need to”;

c. High streets and town centres—“how we can work across Government on that. You might have some different Ministers coming in to give evidence together around that”; and

d. Trade—“there is no doubt that trade is going to be a very significant issue into 2025. How we balance those different interests is going to be a key part of it”.³

6. Specific issues—alongside the themes listed above, the Secretary of State recommended focused work on some specific issues, such as steel and the future of the automotive sector.⁴

3 What we heard and learned

7. The purpose of our roundtable events, held around the country, and our online survey, was to hear from as many people as possible to inform the work of the Committee in this Parliament. The views we heard, which included both opportunities and challenges, are set out in this chapter. While there were many common themes, issues and ideas, there were also important differences between places and sectors. We have not attributed suggestions to specific contributors or organisations, or quoted anyone directly, as no official transcript was taken of our meetings. We have instead tried to capture as much of the content as possible in the report, while excluding specific suggestions put to us that are outside this Committee’s remit.

8. We have organised what we heard around eight basic ideas:

1. The big discontinuities and opportunities ahead for our country;

2. The role of government in setting strategy, regulation, tax and governance arrangements;

3. Fostering the best demand conditions and securing access to the biggest possible markets;

4. Creating the best possible workforce;

5. Ensuring land supply, efficient planning systems, world-class infrastructure, and clean, low-cost energy;

6. Better availability of finance of start-ups, but crucially for scale-ups;

7. Fostering entrepreneurship and innovation; and

8. Reform of corporate governance.

(1) The big discontinuities and opportunities ahead

9. We began our survey and each roundtable discussion by asking participants about the most exciting opportunities they see for their business, sector or organisation. The most important opportunities of the future were commonly agreed to be:

a. Political stability and predictability;

b. The revolution in digital technologies and AI; and

c. The transition to green energy.

Political stability and predictability

10. We heard that businesses want certainty. Whether they are investing more money in their business, recruiting new staff, or increasing their global presence, businesses told us that they want more assurance that the growth plans they are putting in place now, which require a long view, will not be up-ended by future policy or regulatory changes. When looking forward, a common refrain was that the Government must capitalise on the opportunity created by a large parliamentary majority and set out an optimistic long-term vision for business growth. Many contributors told us they hoped that a five-year Parliament would deliver policy stability and they argued for clear, long-term policy frameworks. Business called for implementation plans and targets which give clarity, prioritisation and certainty. But we also listened to those who told us that policy should mandate the outcome, not dictate how to get there. Policy certainty is also crucial for overseas investment in the UK. The Government must therefore think about the signal it is sending to people who are considering making large, longer-term investments in the UK.

The revolution in digital technologies and AI

11. Many participants were excited by the possibilities offered by the digital transition and productivity advances in business that may be possible through use of AI. AI is a critical enabling technology and the UK already has immense strengths and capabilities in the AI space. We heard that a combination of academic excellence, ethical leadership and collaborative innovation positions the UK as a potential global AI powerhouse. The UK tech sector is a vibrant and rapidly growing part of the economy and has the potential to help drive economic growth employment opportunities, supporting the development of AI and accelerating growth through trade. In particular, the life sciences sector is optimistic about the use of AI in improving the health outcomes of patients. Many businesses told us they are keen to optimise the use of ChatGPT and Copilot (or their own models), to bring about efficiencies and cost-savings.

12. We also heard some ideas and needs if the UK is to harness the opportunities of the digital transition:

• The Government must promote tax breaks to encourage digital transition which comes at a high cost to businesses.
• Digital infrastructure should be prioritised.
  • Digital connectivity is currently benefiting large companies at the exclusion of small companies. In Wales, for example, we heard that it has some of the lowest rates of remote working in the UK and that improved digital connectivity is key to generating growth in areas where people could get jobs that do not need them to be physically present elsewhere.
  • Data centres are essential for growth in the whole of the UK given the increasing need for more computing power. Brownfield sites could be used for this purpose.
• We heard that digital skills should become a core component of the school curriculum along with better systems for upskilling the current workforce. Better digital skills would ensure workers and consumers can access the information they need, whether banking, finance, or state-provided services, which will ensure people are not left behind digitally.
• It was suggested to us that digital skills development could also be achieved through initiatives such as the National Retraining Scheme, that provide opportunities for adults to learn new digital skills throughout their careers. Digital Skills Bootcamps—intensive training programs designed to quickly upskill individuals in areas like coding, data analysis, and digital marketing—could be another solution.
• Many businesses told us that they would like to see faster progress in digitalising trade. Digitising international trade and addressing data security concerns is vital in maintaining the UK’s competitive edge. This is true across the economy. The meat industry, for example, told us that a more efficient and digitised Sanitary and Phytosanitary (SPS) import control system is crucial for maintaining the just-in-time food supply chain and would minimise delays at the border and reduce additional costs which are passed on to consumers.

The transition to green energy

13. We heard from businesses and others that they could see opportunities arising from the green transition. Many participants saw this as unlocking a host of opportunities for the UK—from investment in research and development, to the expansion of windfarms, carbon capture and storage and electric vehicle design and manufacture. The drive to decarbonise the UK power system, transport network and heating in buildings is already generating a need for new skills and more highly paid jobs.

14. We heard about a range of possible solutions to harness the opportunities of the green transition:

• Maximising onshoring opportunities in areas such as computer chips and green energy;
• Demand-side incentives for green technologies (Electric vehicles, domestic heating);
• More interest and investment in hydrogen as a possible energy source; and
• Smart incentives tied to property transactions (e.g., when selling a home);

15. Many participants acknowledged the need to promote green jobs as good careers and help workers transfer their skills to these new roles. Some examples of innovative green projects were shared with us, for example a net zero hotel that will soon be opening in Exeter. It will be Europe’s most sustainable hotel.

(2) The role of government in setting strategy, regulation, tax and governance arrangements

16. While there was a consensus that the UK Government needs to improve investment in infrastructure and public services, we heard that there was a shared sense that the nation’s leaders need to project greater confidence in the strengths of the UK economy. Too much talk of past failures risked creating uncertainty and nervousness among business and investors. It was suggested that this ‘national story’ needs reinforcement by leaders in nations and regions.

17. In Wales, for example, participants spoke of the need to talk about Wales more, and more positively, to inspire the required confidence needed for people to invest in Wales.

18. Many contributors see the Industrial Strategy as a vitally important opportunity to “knit things together”. We heard several important pointers for success:

a. The UK has pronounced strengths in technology and innovation. For example, high growth sectors identified by techUK included, but are not limited to: semiconductors, photonics, gaming, defence technologies, quantum computing, artificial intelligence, future telecoms, space technologies, cyber security, digital identity, the applications of quantum and AI in life sciences and digital accounting and e-commerce. These strengths should be exploited.

b. Other contributors however argued that not every important sector is high growth. Many sectors have particular regional importance in providing jobs. The Industrial Strategy must not ignore this and must ensure that there is support for sectors that have social, environmental or regional value. We were told that the Strategy should also identify transition pathways for sectors in decline.

c. We also heard that the Government must determine in the Strategy which industries can stand on their own and which need Government support. In many sectors the right mix of regulation and tax incentives are critical to get right. For example, representatives of the beer and pub sector and the Scotch whisky industry expressed their uncertainties to us about business growth due to the lack of support in the Autumn budget 2024 for their sector through the level of excise duties and business rates.

Regulation

19. The UK is globally recognised for its robust and effective regulatory system, but we heard that certainty is needed about the future path of regulation so that business is able to plan effectively. For example, the automotive industry spoke of the impact of the electric vehicle (EV) quotas, threatening jobs and profitability. Complex UK regulation can make other nations more appealing destinations for investment. Newly announced bodies such as the Regulatory Innovation Office and the Mission Board for Growth need to be sufficiently empowered to deliver investment and growth and join up regulation. This is especially important for new industries. For example, tech industry participants in our inquiry flagged the importance of taking a holistic look at the UK regulatory system, and to explore how high-quality regulation can underpin growth.

Governance

20. The Industrial Strategy must deliver far better cross-Departmental working. The new Government has an opportunity to create more coherence between departments or areas of policy for example, better connecting business and education. Participants told us that there must be better co-ordination of government policy and communication between the Government and industry. Improved integration of government departments was seen as crucial to delivering an effective industrial strategy.

Devolution

21. Many participants told us that they would like more power devolved to their region. Devolution was felt to deliver better decisions on policy areas from skills funding through to local transport connectivity, house building and local talent development, thereby encouraging growth outside London. We also heard that opportunities are not spread evenly in and around regions. Manchester, for example has a thriving city centre where its hospitality, media and construction sectors are booming, yet high levels of deprivation are found in neighbouring parts. Many contributors would like to see greater power and resources for local government (whether mayoral or local authority). In addition we heard that:

a. A number of attendees would like to see the re-establishment of Local Enterprise Partnerships (LEPs) to improve economic growth and job creation in local areas.

b. The Government should empower and enable regional development agencies or mayoral combined authorities to give long-term support to industry and business.

c. Support should be considered for regional “superclusters”, similar to the Swedish model. Such clusters act as a bridge between policy makers, businesses, academia, support systems and industry.

22. We also heard some caution around devolution – a representative of the manufacturing industry told us that while devolution is necessary to accurately assess an area’s strengths in technology, sectors, skills, and infrastructure needs, Government funding for similar or competing technology solutions from localised sources can lead to duplication, necessitating significant national planning to allocate funding efficiently and prevent unproductive regional competition. The new national strategy must integrate existing plans and regional strengths.

(3) Fostering the best possible demand and securing access to the biggest possible markets

Trade

23. Businesses told us they need friction-free trade to sell to the world. We heard praise of the support given to businesses by the Department for Business and Trade to encourage international trade. But companies said more information is needed on where to trade and some commented that, while support is effective once exporting, it is difficult to get started.

24. Recognising our closest foreign market is the European Union, we heard widespread concern about the need to radically simplify EU export processes, reduce trade frictions and reset the relationship between the UK and the EU, particularly on energy. Specific ambitions we heard included:

a. An ambitious Sanitary and Phytosanitory (SPS) agreement to remove the technical barriers to trade in agricultural products, minimising the paperwork, delay and costs.

b. Simplification of customs arrangements. Small businesses expressed their concern about the post-Brexit trading arrangements. While many businesses have found workarounds to continue EU trade, it has come with administrative burdens and additional costs, which disproportionately affects SMEs.

c. Using accreditation and ‘trusted trader’ schemes as a means of removing non-tariff barriers to trade. This would reduce the need for duplicative product evaluation and promote more export opportunities for UK businesses. Where goods crossing borders have been evaluated by an accredited conformity assessment body, the market can be confident that checks have been carried out impartially and competently to international standards.

d. A representative of the financial services sector told us that they are disappointed that the Government has decided to pause the rollout of the Single Trade Window (STW) which would allow traders one point of access to the various systems they need to use for importing or exporting.

e. The agri-food sector told us that the Cabinet Office border team’s coordination since the introduction of the Border Trading Operating Model has been helpful and should be formalized for better cross-government collaboration. They would like to see joint select committee inquiries in the agri-food space.

f. Many sectors, but in particular the financial and legal services sectors, are frustrated by the lack of progress on agreeing the mutual recognition of professional qualifications with the EU.

25. In particular, the Government must take acute care to ensure that the new Carbon Border Adjustment Mechanism (CBAM) does not become a new barrier to trade. We heard concerns that:

a. a tax on the import of raw material will make it cheaper to import a finished product, which would result in many manufacturers questioning whether it is cost-effective to make a product in the UK;

b. steel transformation will take longer than the introduction of C-BAM in 2027 and that impact of C-BAM on business should be investigated;

c. the methodology for implementing C-BAM might disadvantage clean energy generation and hinder investment in GB-EU interconnection and offshore infrastructure; and

d. its introduction might lead to higher prices for clean energy products by raising the cost of procurement.

26. Talking about trade beyond Europe, voices in our surveys and roundtables underlined the importance of a clear Trade Strategy that is clearly communicated to local communities as a tool for economic growth. Many participants cited interest in the progress of the India and Gulf Co-Operation Council Free Trade Agreement (FTA) negotiations and concerns were expressed about the impact on their business of potential tariffs to be introduced by President Trump’s new administration. As such, many argued that the UK must diversify its trade partners to ensure that it remains competitive and resilient to geopolitical disruptions. In addition, we heard:

a. The Government must do more to promote the benefits of FTAs to businesses. A consumer group representing the wine and spirits industry for example, asked us to consider the recommendations made by the Federation of Small Business through its SME Export Taskforce⁵ as part of our work on export led growth and the Trade Strategy.

b. Free trade agreements however were no longer seen as important as trade diplomacy and promotion. For example, the financial services sector would like to see greater use of alternative or complementary trade policy tools to FTAs, since FTAs can be less fruitful for services than for goods. For example, digital economy/trade agreements are comprehensive “digital-only” agreements that establish trade rules and facilitate interoperability between two or more digital economies.

27. Digital trade is seen to be a very significant field for growth. We were told that the UK must use its diplomatic network to drive the digitisation of global trade and provide support to homegrown businesses which currently find it hard to manage the paper documents relating to active trade. Expanding digital market places and promoting cross-border online sales, we heard would boost exports to regions where physical retail is limited. This encompasses digitally enabled trade (payment systems, insurance); the digital delivery of goods and services; the digitisation of trade transactions (customs and paperwork) and the digitisation of supply chain management. Given the UK’s competitive advantage in digital services (both direct and in support of manufacturing) and the role the UK has played in digital trade agreements, we heard that the digital space has the potential to be both an exciting but also important opportunity for the UK not to miss. We also heard that:

a. Intellectual Property (IP) protection is absolutely critical for many UK exporters. For a predominantly services economy, there must be more dialogue around IP and how it can be used for competitive advantage.

b. The creative industries want the Government to address regulatory challenges around copyright and IP protection to encourage foreign direct investment in UK cultural and creative industries. This would include examining existing financial arrangements that hinder the development of innovative IP investment vehicles. Not supporting or enforcing IP rights could damage investment in high-quality content and impact the global competitiveness of the sector.

c. The manufacturing industries told us that access to, and sharing of IP, often hinders collaboration and grant funding efficiency. There are no incentives for larger businesses to address shared production issues collectively.

28. Trade data is important in helping businesses target sales and marketing efforts. We heard that the Department for Business and Trade must make trade data more open. If the UK aspires to be a leader in sectors such as technology and manufacturing, it must cultivate strong market awareness of international trade and developments. Business needs help staying informed of global market trends, technological developments and regulatory changes that impact trade. Informed trade data will help businesses better anticipate shifts in demand, identify new opportunities and adapt to competitive pressures. In this regard, we heard that:

a. Market awareness must be better promoted to help the UK innovate and tailor its products and services to meet international standards and consumer preferences; and

b. Enhanced awareness of global developments is needed to help the UK forge strategic partnerships, attract foreign investment and enhance its export capabilities

29. The Government’s trade strategy must also ensure that the nation de-risks critical supply chains. We were told that there must be more on-shoring of supply chains in order that the UK is not behest to big suppliers. A “just in time” supply chain can easily fail. There must be more supply chain transparency in business. Some participants suggested that there should be a minimum level of disclosure on the part of companies.

30. We also heard loud and clear that the Government should not leave our values outwith our trade deals. Rather these agreements must ensure that the UK’s priorities for energy and climate, and sustainable development, health and human rights are not disregarded.

a. Some participants see the forthcoming Trade Strategy as a great opportunity to embed human rights and labour rights commitments within UK trade agreements.

b. UK trade policy should be reshaped so that it becomes a powerful tool in the fight against climate change. Some participants suggested that climate waivers are incorporated into all trade deals and that intellectual property and government procurement provisions are included in trade deals to align with climate ambition.

Government procurement

31. Government procurement should become a much more important market for UK business. We heard many voices ask for greater attention to be paid to public procurement and for more help for smaller businesses to access Government contracts. On this topic, participants’ contributions included:

a. Opportunities were identified to better support small and British businesses through the award of public procurement contracts. It must become simpler to access government contracts which can be out of bounds for some companies because thresholds are placed upon company size and profitability as part of the procurement bidding eligibility criteria.

b. The Government must move away from focusing on the simply lowest headline price and move towards a focus on quality and delivery.

c. A representative of the financial services sector suggested that the Government consider allotting a certain percentage of procurement contracts to SMEs.

d. A representative of the fashion and textiles sector suggested overhauling public procurement policies which favour cheaper imported goods over UK goods.

e. Improvements should also be made to the experience of companies when engaging with public procurement. Concerns were raised around the inefficiency of existing systems, which do not retain data for future bids and require separate payments when a company engages with multiple platforms.

Ensuring we have available the best factors of production

(4) Creating the best possible workforce

32. Issues around the labour force were the single most important set of concerns we heard from the business community. Many businesses told us that access to skills is one of the biggest barriers to investment and growth and that difficulty finding and recruiting people with the rights skills is an ongoing challenge.

33. This challenge may be holding back new industries. We heard from representatives of companies developing technologies needed for the green transition for example, that there are skills gaps required for electric vehicle manufacturing. Participants in the transportation/logistics sector flagged the acute shortage of mechanics and, furthermore it is more costly to train someone on electric vehicles.

34. Generally speaking, we were told that there is a lack of awareness of career pathways and local skills needs. Some of the proposals for improving the skills of the workforce and next generation of workers included:

a. Economic clusters needed to be able to tailor training for local workforces, especially when large-scale projects such as the proposed Gigafactory in the South West, were creating new opportunities.

b. Curriculum reform needs to include skills for work and careers education in schools must be improved with clearer pathways to apprenticeships.

c. Devolution of skills policy can have many advantages. The Greater Manchester Good Employment Charter, for example, was highlighted as a positive initiative that is helping employers grow, helping employers innovate in recruitment and helping employers improve their employment standards. Others stressed the need to encourage more businesses that are rooted in the community. In Wales, we heard that IQE, a local semiconductor Company, is creating high-value jobs in the area which is good for investment.

Apprenticeship Levy

35. Many participants want to see reforms to the Apprenticeship Levy as it is too burdensome and inflexible for businesses. The Levy should be reformed to allow greater flexibility, enabling businesses to use funds for part-wage support and short-term training modules. In Glasgow, for example, attendees raised concerns about the way the Levy funds are distributed and managed in Scotland, while in Greater Manchester we heard businesses say they struggle to spend the skills levy and get the technical training they need through the levy. A trade union representative suggested reintroducing the Union Learning Fund.

Upskilling the workforce

36. We heard widespread concerns about the need to build a training system that helped constantly upskill the workforce at the speed of industrial change. This includes a training offer for middle managers. Some companies cited the training and support for middle management as poor and that many people had become “accidental managers” with little coaching. The Help to Grow management training scheme was referred to as a positive move to support businesses, but since the scheme was cancelled, no similar initiative has been put in its place. Some employers reported that it is difficult to upskill their workforce due to constraints on people’s time.

Freelancers and IR35

37. A vital part of the UK labour market are those working as freelancers. But some participants flagged the constraints of IR35 off-payroll working rules and the need to improve flexibility for freelancers. Some attendees told us that the loss of freelancers has been significant and it is important to recognise that freelancers contribute to the apprenticeship levy. The film and TV industry, represented at the Manchester roundtable, would welcome the removal of restrictions on freelancers.

Overseas recruitment

38. Many firms continue to rely on talent from overseas. But participants felt there was an acute need to simplify and reduce the cost of the visa system to attract overseas talent into specific sectors. Conversely, mutual recognition of professional qualifications (MRPQ) is necessary for opening up markets for UK service exporters. Many participants from different sectors are growing frustrated by the time it is taking to reach a deal with the EU on MRPQ.

Impact of the Autumn Budget and Employment Rights Bill

39. The impact of measures in the Autumn Budget 2024, such as changes to Employers’ National Insurance Contributions and the National Minimum Wage, were raised by business representatives from across all sectors as a risk to their plans for growth. Every sector raised concerns about the effect of employer National Insurance contributions: some businesses have already reduced staffing; many have frozen recruitment; and many firms in the hospitality industry are reducing operating hours in response to increased costs expected through measures contained in the Budget, the Employment Rights Bill, the national minimum wage increase, persistently high energy costs and business rates.

a. The creative industries told us that while the Chancellor’s decision to increase the National Living Wage is welcome, the implications it has for smaller companies and freelancers should be considered. They warned us that freelancers could end up shouldering the downwards wage pressure from businesses facing higher costs, leading to either a stagnation or decline in freelancer rates.

b. Some sectors, for example in the hospitality and tourism sectors, raised concerns about proposed changes to zero hours contracts. Coastal areas which employ high numbers of seasonal workers benefit from zero hours contractors, such as university students who take up employment during the summer months. In Exeter, for example, representatives of the hospitality industry, which typically employs large numbers of younger workers, raised concerns about the raise to the National minimum wage for 18–20 year olds, warning that they would assess the risk of employing younger staff who would be paid more similar wages to more experienced staff under the new rates.

c. Concerns were raised about the day one rights for employees proposed in the Employment Rights Bill. Some firms told us that they could not afford the risk of recruiting someone new due to the potential costs associated with for example, immediate sickness absence pay.

d. Concerns were raised by companies with a large part-time workforce that the changes to the National Insurance Contributions threshold would lead to off-shoring workers and more automation as well as redundancies.

e. In particular, the increased rate of National Insurance Contributions was cited as stalling investment plans across various sectors, and that money was being redirected to pay the National Insurance rate increase. This was cited as hampering their growth plans.

(5) Ensuring land supply, efficient planning systems, world-class infrastructure, and clean, low-cost energy

40. Planning systems in the UK were seen as a major inhibitor to growth. There was a clear call for Local Authority planning teams to be properly resourced to handle planning applications. Frequent policy changes have led to uncertainty about planning rules and slow down investment. For example, the Scotch Whisky industry provided examples of lengthy planning applications for new distilleries which cause uncertainty among would-be investors. In particular there is a need to reduce the cost of preparing planning applications and improve processing times for planning approvals.

41. Many contributors talked about the opportunities that can be gained from revitalising the high street. Some suggested that ‘dead space’ should be converted into housing. Levels of taxation between high street retailers and online retail need to be fairer and some suggested that the relative business rates charged on empty compared to occupied business rates should be considered. Views were also expressed on the complexity of the land ownership system, where the lease system is impacting vacancy issues on the high street.

Connectivity

42. The poor state of UK connectivity—transport, power grid, and digital—was also seen a crucial blocker to growth. Participants flagged the need to:

a. Improve transport links to enable workers to get to jobs. The high cost of train travel and limited services in less populated areas makes it difficult for people to reach employment. Transport connectivity also influences decisions on where businesses invest money. Rural communities are often not considered if transport networks don’t allow workers to get to site. Lack of transport options risks some towns and rural communities being left behind.

b. Grid connections need accelerating to help the UK bring on line infrastructure for technology development. Businesses are facing queues to get connected.

c. Innovative solutions presented include using Small Modular Reactors (SMRs) to alleviate the strain on the National Grid. By integrating SMRs into the energy mix for data centres, the UK can ensure a steady supply of electricity that is less dependent on the fluctuations of renewable energy sources.

d. The Government must develop integrated regional planning policies which consider the interdependencies between infrastructure, ensuring that energy infrastructure supports housing and transport, which in turn is crucial for public services and water access.

Energy costs

43. The high cost of energy in the UK needs addressing. High energy costs damage the UK’s competitiveness compared to the US and its nearest European neighbours. High energy costs are an ongoing concern for large energy users, particularly those that do not fulfil the criteria to become “Energy and Trade Intensive Industries”, such as the automotive industry. The high cost of energy continues to affect other sectors, for example the hospitality sector which heats large buildings such as hotels, pubs and restaurants at huge detriment to its profit margins. Additionally, the high cost of energy continues to impact the cost of living for low income families, which in turn impacts spending and economic growth.

Affordable housing

44. Concerns were raised by attendees in all locations about the cost of housing and the impact that has on the area retaining and attracting its workforce.

(6) Better availability of finance of start-ups, but crucially for scale-ups

45. Easier access to finance to help grow business was a common point of discussion at all of our roundtable events. In particular, the UK needs better incentives for investment and to establish or expand scale-up finance institutions. Some companies know that there is money available for investment, but see risk adversity as the main obstacle to business expansion. Although lessons needed to be learned about capital investment from the failures of Britishvolt and Northvolt, we were advised to assess the role of finance in the Industrial Strategy and how to make the UK an attractive destination for capital.

46. Some businesses, particularly SMEs have found that high street banks are reluctant to lend, and charge high borrowing costs, a problem compounded by a lack of tax incentives for business growth. New initiatives like the National Wealth Fund were welcomed but we heard warnings that such Government initiatives must not crowd out private investment. We heard an over reliance on government grant funding could be risky and that there is a need for new funding mechanisms that blend public and private sectors. Nevertheless, access to capital was identified as a major barrier, especially for scale-ups. Recommendations to government which we heard, included:

a. Simplifying access to, and reducing the risks associated with accessing Government-backed financial support (create a “single front door”) was seen as important. Others suggested appointing ambassadors for trade and industry to promote grants and bids, plus a portal to detail available funding schemes based on postcode.

b. The creation of a National Wealth Fund as part of the Industrial Strategy should help ensure new technologies required to drive the green economy are not held back by financial risk. As such the National Wealth Fund must have a bold ambition to ensure economic prosperity across the regions with a fair distribution of skills.

c. Availability of finance through the British Business Bank (BBB) needs to improve. Due to its lending rates (that are often higher than those of high street banks), many business owners fear, for example putting up their home as collateral, which we were told is a condition of many loan offers. As a result many small businesses are reluctant to take loans from the BBB. On the other hand, a financial services organisation praised the work of the BBB but would like to see the inclusion of green and greener assets.

d. The Enterprise Investment Scheme (EIS) and Seed Enterprise Investment Scheme (SEIS), both designed to stimulate investment and produce economic growth, were viewed positively as vehicles to promote new enterprise and entrepreneurship. But such schemes could be bigger and bolder. For example, a “Scaleup Investment Scheme” designed to encourage more private investment into software businesses of £10m-£100m in annual revenue was one suggestion for opening up wider investment opportunities.

47. In particular, we heard that the process for access R&D finance must be simplified. Small companies argued they spend too much time and money on applications and reporting. More support is needed to help companies write bids for funding along with shorter funding cycles. A lack of guarantees also hindered long-term R&D investment. In addition, we heard:

a. Local support for R&D finance is generally inadequate and barriers block access to central government funding. Small firms find central government “gatekeepers” are often disconnected from local and regional contexts, making it difficult for them to understand the businesses and products being pitched

b. There is a lack of awareness of business support through organisations such as Innovate UK. The Government must do more to advertise such support to businesses. We heard a widely held belief that funding is not properly announced so that unclaimed funds can be re-used for other purposes, and due to a perceived lack of interest, further money is not made available.

c. Small companies suggested that it would be helpful if applications for funding could be made verbally, possibly through video pitches, in order to sell a proposal more clearly.

(7) Fostering entrepreneurship and innovation

48. A number of companies and organisations told us that promoting innovation is crucial to ensure UK businesses are more globally competitive. The UK must be seen to be a global research and innovation hub. Fostering innovation will create more high-quality jobs and enhance the UK’s competitiveness. This will help distribute economic prosperity more fairly and help build a more inclusive and sustainable economy. Key principles to guide this should include greater use of University-Industry collaboration, such as Knowledge Transfer Partnerships to strengthen joint working between universities and industry. Technology advances must be planned ten to twenty years in advance, and not over the standard five-year Parliamentary term. We consistently heard that AI must be seen as an opportunity and the UK must be ahead of the game as it will become a race. Investment in AI should not be over-regulated.

49. Many spoke about the quality of the UK’s higher education provision and how this must be harnessed to encourage more innovation. More use should be made of Catapult centres, particularly for digital innovation. Local tech clusters, such as South Wales’ semiconductors and the North East’s cybersecurity showcase national growth potential through job creation and effective links between developing technology and university expertise.

50. Specific suggestions we heard included:

a. Continued funding for the innovation accelerator, the Made Smarter Innovation Programme and the Life Sciences Innovative Manufacturing Fund. A Life Sciences Committee was suggested to further the growth of this important sector in the UK.

b. Small businesses must be supported to adopt innovative digital solutions, such as e-invoicing and accounting software that will enhance productivity and potential for growth. Many smaller companies struggle to integrate new technologies due to financial constraints, lack of expertise, or resistance to change.

c. The importance of soft power must be recognized and the proposal to set up a Soft Power Council was welcomed. We heard support should be given to the Creative industries which are noted for their innovation and rapid growth, outpacing the economy for the last 20 years, and seen as globally excellent.

d. More events and showcases would display some of the unique and world-class technology developments taking place in the UK, particularly from some SMEs, which can attract more inward investment and opportunities.

(8) Reform of corporate governance

51. The UK’s long and stable history of good corporate governance is one of its strengths. However, many voices argued that evolution was now needed. In particular we heard:

a. A consumer group suggested that we examine section 172 of the Companies Act 2006⁶ as part of our up-and-coming work on the Corporate Governance Bill. Ensuring that directors align the interests of all stakeholders, we were told, will bring wider societal reforms, benefiting worker health and wellbeing, employee rights, and the environment.

b. Directors should evidence how they have enacted their duties through their annual report and accounts, which need to be better scrutinised. The Financial Reporting Council should be handed tougher sanctions for non-compliance.

c. The Government should promote the adoption of the code of conduct for Directors, which should be incorporated as a vital new component of the UK governance framework. In many aspects of business life, a code of ethical conduct is an essential component of the licence to operate and a meaningful source of professional accountability.

d. The Government’s plans to expand Mutuals was welcomed as a step towards greater financial inclusion.

4 Our priorities

52. The Committee met on 17 December 2024 to discuss what we heard at the roundtable discussions and agree our priorities in the short and longer-term. The Chair, Rt Hon Liam Byrne MP asked each Committee Member in turn to present their key takeaways from the roundtable discussions they facilitated. The main points were discussed, and themes emerged. From this discussion, the Committee was able to identify emerging priorities but at the same time recognised that what it had heard will continue to inform its work for a much longer term.

53. The Committee agreed that its first wave of Inquiries should include the following topics:

a. Industrial Relations and the Employment Rights Bill, to reflect both on the Government’s Bill and the messages we heard about business’ number one challenge: securing the best possible workforce.

b. Export led growth, to ensure we scrutinise Government plans to grow the markets in which UK firms can trade, including the UK-EU Reset and the forthcoming Trade Strategy.

c. Industrial Strategy, which was seen by most people we heard from as one of the key opportunities for this parliament. This Inquiry will allow us to understand the challenges and Government’s responses to many of the issues we heard about the challenge of accessing to right ‘factors of production’ to grow the economy faster.

d. Access to finance and investment, which we heard was among the most important constraint on growth.

e. Small business support and growth; and

f. Corporate Governance, audit reform and the Pensions Bill which we will aim to investigate ahead of the Bills’ respective introductions, and through which we can also investigate the position of women and ethnic minority communities in UK business leadership.

54. We also agreed to hold one-off oral evidence sessions on:

a. Dynamic pricing and the work of the CMA;

b. Role of regulators in stimulating growth; and

c. Regulation of the beauty industry

55. We began work in January on employment rights as part of our scrutiny of the Government’s Employment Rights Bill: Make Work Pay. We have picked up many themes through the course of the oral evidence sessions that were raised during the roundtable discussions, such as zero hours contracts, raising living standards throughout the UK, and addressing concerns over forced labour in international supply chains. The transcripts for each of those sessions, follow- up correspondence and the written evidence and have been published on the Committee’s page for the inquiry.⁷ A report, which will inform the later stages of the Bill’s passage through Parliament, will be published mid-February. We have recently announced the export-led growth and industrial strategy inquiries. Submissions of written evidence will be accepted until 14 February. Oral evidence sessions for both inquiries will be held between January and July. We will publish short, thematic reports for each inquiry.

56. Once again, the Committee records its thanks to everyone who participated in this process of priority setting.

Annex 1: Engagement programme

Online survey

1. We launched an online survey which closed on 20 December 2024. Publicised on our Webpage, via social media channels and word-of-mouth, we sought views on the Government’s goals to:

• Become the economy with the fastest sustained economic growth in the G7;
• Deliver a ‘pro-business, pro worker’ agenda with rising living standards in every part of the United Kingdom;
• Develop closer trading relationships with others, including the European Union;
• Maintain the UK’s status as a global leader in protecting consumers

2. Our survey asked the following seven questions:

i) What are the most exciting opportunities for your business, industry, or sector?

ii) What are the key barriers or challenges for your business, sector or organisation?

iii) What is the role for government (central or local) in breaking down these barriers?

iv) Which key opportunities or barriers to improving trade should we investigate?

v) What could be done to ensure economic prosperity is fairly shared between shareholders, savers, investors, workers, and consumers?

vi) How do you think the Autumn Budget 2024 will impact your business, sector or organisation?

vii) Which issues should we investigate urgently and which long-term issues should we address?

3. We received 172 responses to our survey. The results were analysed alongside the ideas and views that were shared at the roundtable events and included in chapter 3 of this report. A list of contributors to the survey is presented in Annex 2.

Regional Roundtables

4. In the week commencing 2 December, we travelled outside Westminster to hear from the business community, trade unions, consumer groups and academics. In order to hear from a range of sectors in different regions of the UK, we travelled to Exeter, Cardiff, Oxford, Warwick University, Manchester and Glasgow. We thank the host venues for organising successful events in each location and also all those who participated in such enlightening and informative discussions. We plan to follow up these Roundtable events in future years in new locations.

5. We selected the attendees at each event through a variety of means: regional Chambers of Commerce suggested a range of stakeholders representing a wide range of business and sectors; the host venues made recommendations from within the local community, including academic connections; Committee Members suggested some attendees; and some requests for invitations came via the online survey and other publicity. In total we heard from over 350 attendees and we value the richness of responses that resulted from the variety of sectors represented at the events and through travelling in excess of 500 miles.

6. Each roundtable discussion was hosted by a Member of the Committee and the questions in the online survey detailed on pages 5–6 were used to prompt the discussion. We have presented the views and ideas which will inform the key priorities for our future work in chapter 4.

Westminster conference

7. We held two further roundtable discussions in Westminster on 12 December. We followed the same format as the regional roundtables, hearing from a further 122 attendees, who were mainly selected on the basis of being key Committee stakeholders. We thank all those who attended the one-day conference in Westminster and have included views and suggestions captured at this conference alongside those that were recorded at the regional roundtable events.

MP-led roundtable meetings

8. As part of this programme of engagement, we also produced an engagement pack which we shared with all Members of Parliament, seeking their help with this exercise. The pack, which is included in Annex 3, suggested that Members could conduct a roundtable in their own constituency, promote the online survey among their stakeholders, and suggest stakeholders to attend one of the Committee’s roundtable events. Two Members of Parliament, Sarah Edwards MP (who is a Member of this Committee and MP for Tamworth) and Rachel Taylor MP (Member for Warwickshire and Bedford), hosted roundtable events with over fifty stakeholders. The opinions and suggestions expressed at both of those events have also been included in this report.

Annex 2: List of contributors

Roundtable events held week commencing 2 December 2024

Exeter College
Jade Otty	Deputy CEO, Exeter College
Richard Church	Chief Operating Officer, Exeter College
Mark Godfrey	Deer Park Country House
Joe Hammond	Winslade Manor & South West Food Group
Salar Brock	Lympstone Manor
Carmen Hanif	FSB
Kevin Wiltshire	Sherwoods
Tatiana Fernandez	Vistry Cornwall (part of Vistry Group)
Peter Matravers	AWP
Matthew Cousins	Apex Scaffolding & Exeter Chamber of Commerce
Ian McHale	WCR LTD
Bindu Arjoon	Exeter City Council
Paul Coles	South West Business Council
Richard Marsh	Exeter Chamber of Commerce
Karl Tucker	Yeo Valley & Great South West PRP
Mike Blakeley	Executive Director of Partnerships & Apprenticeships, Exeter College
Robert Stevens	Optix Solutions
Matt Phillips	IT Champion Ltd
Julie Hawker	Cosmic
Rob Hartman	Overair
Anna Cohn Orchard	Exeter UNESCO City of Literature
Mike Bestwick	John Lewis Partnership
Beth Ardron	Voco Zeal Exeter Science Park
Alan Styles	Axminster Tools
Sam Steer	Premier Education
Dr Sally Basker	Exeter Science Park
Mike King	Cornish Lithium PLC
Nicholas Miles	EWI Pro Insulation Systems
Beth Johnson	SunGift Solar
Charlotte Davidson	WCR LTD
Giles Bradford	Bradfords
Steve Rose	Gregory
Peter Knight	Stagecoach South West
Tanya Loosemore	RGB Recruitment Ltd
Paul Crocker	PKF Francis Clark
Will Campbell	Exeter Aerospace
Lydia Wright	Little Pearls Nursery Ltd
Nicola Wheeler	InExeter
Maxwell Sayers	Nooko
Dawn Pitts	Quinns Hairdressing
Lucy Lewis	Build Torbay
Connor Conneely	Torbay Council
Rob Nicholls	CFO Centre

Cardiff Business School
Carolyn Brownell	ForCardiff
Vogy Buanaputra	Cardiff University
Leanne Connor	Thales
Ben Cottam	FSB
Will Crawford	Concrete Canvas
Fflur Elin	FSB
Rachel Evans	Chambers Wales SESWM
Catherine Felton	Effective Communications
Cerys Furlong	GroupED
Leon Gooberman	Cardiff University
Tom Hoyles	GMB
John Hurst	B2B IT services
Leon James	Braces Bakery
Peter James	Cintec
Steph Jary	Western Gateway
Jayne Jones	NPTC group of colleges
Jessica Leigh Jones	iungo
Sarah Kocianski	Fintech Wales
Sarah Lethbridge	Cardiff University Business School
Nisreen Mansour	Wales TUC
Harvey McCabe	Make UK
Felix Milbank	FSB
Kevin Morgan	Cornerstone Finance
Gabriel Phillips	Airbus
Lloyd Powell	ACCA
John Procter	Procter Brothers
Janis Richards	Make UK
Llyr Roberts	Mentera
Gavin Roberts	Caerbont Automotives
James Scorey	CAVC
Rhys Taylor	Bute Energy
Matt Tucker	Coleg Y Cymoedd
Pasty Turner	Unite the Union
Carl Waters	Kontroltek
Dana Williams	Welsh Automotive Forum
Lesley Williams	Welsh ICE
Rhys Williams	Natwest
Mark Williams	CWU
Gus Williams	Chambers Wales SESWM
Justin Leese	Ogi
Owain James	Daragon Talent
Tim Edds	Browne Jacobson

Dinner hosted at the Blavatnik School of Government, University of Oxford
Anne Davies	Faculty of Law, University of Oxford
Carl Benedikt Frey	Oxford Internet Institute, University of Oxford
Charles Godfray	Oxford Martin School, University of Oxford
Chas Bountra	Nuffield Departent of Medicine, University of Oxford
Christina Davis	Department of Politics and International Relations, University of Oxford
Josh Walter	Osney Capital
Kathy Harvey	Saïd Business School, University of Oxford
Krzsztof Pelc	Department of Politics and International Relations, University of Oxford
Ludovic Phalippou	Saïd Business School, University of Oxford
Michael Devereux	Saïd Business School, University of Oxford
Ngaire Woods	Blavatnik School of Government, University of Oxford
Nigel Tipple	Oxford Local Enterprise Partnership
Pepper Culpepper	Blavatnik School of Government, University of Oxford
Pinar Ozcan	Saïd Business School, University of Oxford
Sarah Haywood	Advanced Oxford
Thomas Hale	Blavatnik School of Government, University of Oxford
Tony Venables	Department of Economics, University of Oxford

University of Warwick
Adam Taylor	Petshop.co.uk
Agnieszka Chmara	Norton Motorcyles
Alex Toft	West Midlands Combined Authority
Andrew Todd	University of Warwick
Anette Soyer	Eatron Technologies
Arun Srinivasan	Bosch
Charles Stevenson	JCB
Chris Anderson	University of Warwick
Chris Golby	Culture Nav
Cllr George Duggins	Coventry City Council
Cllr Jim O’Boyle	Coventry City Council
Dan Meredith	E.ON UK
David Plumb	University of Warwick
Dr. Shahnaz Akhter	University of Warwick
Dr. Vicki Belt	Warwick Business School
Gavin Miller	Community Trade Union
Gemma Wild	University of Warwick
James Cousins	Geeka Media
James Stephens	DHL
Jan Jennings	Black Country Chambers of Commerce
John Burt	Medherrant
John Reeve	Fluxsys
Keith Thomas	EBS
Maria Tjader	Schneider Electric
Martin Yardly	University of Warwick
Matt Wilson	NFU Mutual
Matthew Carter	Coventry Building Society
Michelle Brierley	JLR
Olivia Walmsley	University of Warwick
Phil Bale	Ubisoft
Professor Nigel Driffield	University of Warwick
Professor Stuart Croft	University of Warwick
Rachel Fagan	GMB
Raj Kandola	Greater Birmingham Chamber of Commerce
Richard Parker	Mayor of the West Midlands
Rt Hon Greg Clark	University of Warwick
Richard Walsh	Cadent Gas Ltd
Rob Johnson	TUC
Sarah Windrum	Horiba Mira
Scott Couldridge	National Grid
Sophie Doward-Jones	Aston Martin Lagonda Ltd
Victoria Lynch	University of Warwick Science Park

University of Manchester
Carl Jones	Cloud Imperium Games
Verona Johnstone-Hulse	NCC Group
Nick Richardson	The Insights Family
Caroline Grant	Slalom
Shaun Fensam	Co-operative Network Infrastructure
Jane Healey-Brown	ARUP
Howard Lord	CERT Property
Beccy Hutchinson	Manchester Airports Group
Steve Sankson	Natwest
Jay McKenna	TUC – Jay McKenna
James Bull	UNISON – James Bull
Amanda Bailey-Coll	USDAW
Professor Carol Atkinson	Manchester Metropolitan University
Alan Brierly	Adept Corporate Services
Paul Evans	Carlisle Support Services
Graham Lucas	Michael Page
Jonathan Bourne	Damar Training
Dr Sarah Crozier	Manchester Metropolitan University
Gary Boon	Thermatic
Rich Browning	Healthy Me Healthy Communities
Devon Poyser	Southway Housing
James Wright	SharpFutures & Co-Operatives UK
Nile Henry	The Blair Project
Sid Sethi	Specscart
Scott Bradley	Northern Heart Films
Brett Mendell	Thomas Kneale
Denise Shacklady	Tibard
Christian Jones	Nexperia
Teun Bakker	Nippon Electric Glass Fibre
Donald Moore	One+All (Rowlison Knitwear Ltd)
Keith Rimmer	Thermocill
John QB	Social
David Parker	Parker Neal Ltd
Sian Gwyther	Zally
Rob Page	MCDA
Ayan Mohammed	Digitech Oasis
Emma Redfern	Cooperative Bank
Blal Choudhry	Flight Patrol
Silvia Massini	University of Manchester
Elvira Uyarra	University of Manchester

University of Glasgow
Alastair Ross	Association of British Insurers
Yen Tiefenbrun	Castle Precision Engineering (representing ADS)
Catherine McWilliam	Institute of Directors Scotland
Bruce Cartwright	ICAS
Sarah Chisnall	ICAS
Joanne Davidson	Edinburgh Chamber of Commerce
Ken Topping	GoFibre (representing Scottish Borders Chamber)
Alastair McLean	Royal Bank of Scotland
Michael von Euw	Midlothian and East Lothian Chamber
Paul Hunter	West Lothian Chamber
Karen Musgrave	Barrhead Travel
Beatrice Morrice	NFU Scotland
Ben Rose	Scottish Financial Enterprise
Charandeep Singh	SCC
Mark Connolly	SCC
Anton Muscatelli	Glasgow University
Eleanor Shaw	Glasgow University
Soner Baskaya	Glasgow University
Alison Henderson	Dundee and Angus Chamber
Shireen Davies	Solasta Bio
James Park	Scottish Salmon
Mark Kent	Scotch Whisky Assoication
Patricia Dillon	Speyside Distillers
Irene Shanks	Alba Orbital
Paul Robertson	Suntory Global Spirits
Brian McLean	AGS Airports
Gavin Newlands	AGS Airports
Claire Thring	Neuranics
Mark Ferguson	Pinsent Masons
Hina Khan	SCC
Colin Borland	Federation of Small Businesses
Jack Gemmell	Pernod Ricard
Uzma Khan	University of Glasgow
Stuart Cresswell	AB Ports

Westminster Conference (12 December 2024)
Michael Gasiorek	UK Trade Policy Observatory/Centre for Inclusive Trade Policy
Ben Martin	British Chambers of Commerce
Kate Shoesmith	Recruitment & Employment Confederation
Matthew Ogg	Society of Motor Manufacturers and Traders
Anthony Walker	TechUK
Joe Edwards	Association of the British Pharmaceutical Industry
Fil Pollara	Federation of Small Businesses
Helena Coe	Confederation of British Industry
Oliver Heath	Citizens Advice
Tom Morrison	Altana
Will Nathan	Vertical Aerospace
Mike Archer	AstraZeneca
Zakiy Manji	BAE Systems
Tim Morris	Associated British Ports
Richard Laming	Ferrero
Blake Bower	IBM
Simon O’Donnell	Boeing
Alasdair Murray	KPMG
Steve Rigby	Rigby Group PLC
Simon Newton	Jazz Pharmaceuticals, UK & Ireland
Chloe MacEwan	Microsoft
Murray Paul	Jaguar Land Rover
Paul Swinney	Centre for Cities
Serge Thines	KraftHeinz
Nick Plumb	Power to Change
David Farrow	Barclays
David Sheen	UKHospitality
Andrew Hall	NBC Universal
Jennifer Halliday	Competition and Markets Authority
Antony Manchester	BlackRock
Leo Verity	Trade Justice Movement
Bryan Byrnes	Moneybox
Gail Soutar	National Farmers Union
Rachael Henry	Institute for Public Policy Research
Lydia Hamilton-Rimmer	Simply Health
Matt Drew	Stubhub/viagogo
Laura Burley	Xero
David Park	British Coatings Federation
Samuel Honey	Wine and Spirit Trade Association
Jamie Baker	Fuels Industry UK
Katie Doherty	International Meat Trade Association
Jack Knight	Investment Association
Piers Neill	British Services Association
Steven Coventry	Siemens
Melanie Hannah	NatWest
Dominic Quennell	Enertechnos
Sam Goodman	China Strategic Risks Institute
Brandon Minichiello	Rolls Royce
Alex Philips	Santander
Sonika Sidhu	Local Government Association
Matthew Knight	Siemens Energy
Luke Ryder	Open Banking Limited
Catherine Nicholls	Sony Music
Sarah Eadie	Vodafone UK
Jon Marlow	The Walpole
Chris White	Manufacturing Technology Centre
Idil Connell	Aston Martin
Gino Martini	Precision Health Technologies Accelerator
Alieda Moore-Berry	Citibank
Jordan Clark	Drax
Cameron Murray	Lloyd’s of London
Morgan Schondelmeier	British Beer and Pub Association
Jane McIntosh (Wallace)	Trustpilot
Caroline Norbury	Creative UK
Karim Palant	British Private Equity and Venture Capital Association
Lee Bruce	ADS
Sachin Gulrajani	Food and Drink Federation
Tom Regan	Which?
Mark Y Smith	Deloitte
Phil Skegg	Taylor Woodrow
Douglas Anderson	GAP Hire Solutions
Katherine Ainley	Ericsson, UK and Ireland
Aneke Schwager	Impossible Foods
Cécile Nagel	BNY
Jenny Herrera	Good Business Charter
Victoria Sutherland	What Works Centre for Local Economic Growth
Fiona Gooch	Transform Trade
Liron Woodcock-Velleman	Community
Verity Davidge	Make UK
Madeleine Findlay	Intuit
Kara Cubbage	Accolade Wines
Simon Marsh	Chemical Industries Association
Robert Shaw	UKRI/Innovate UK
Laura Harvey	Centrica
Chris Leese	Mineral Products Association
Shayne Halfpenny-Ray	British Insurance Broker’s Association
Tom Chant	Society of Maritime Industries
Nicola Walker	Ford Motor Company
Andrew Gall	Building Societies Association
Robert Flello	Ceramics UK
Karim Fatehi	London Chamber of Commerce and Industry
Aaron Gould	Association for Decentralised Energy
Rachel Taylor	PwC
Gregory Thwaites	Resolution Foundation
Roz Bulleid	Green Alliance
Katy Alexander	Oxford Quantum Circuits
Ali Poncia	Trade Union Congress
Tom Evans	Tata Steel
Chris Cassley	Construction Plant-hire Association
Rory Tanner	Revolut
James Alexander	UK Sustainable Investment and Finance Association
Brendon Marsh	SSE
Henry Thompson	Institute and Faculty of Actuaries
Shridaran Pillay	De Beers
Leslie MacLeod-Miller	Foreign Investors for Britain
Adam Hawksbee	Marks and Spencer
Theo Lomas	Epic Games
Chris Rumsey	Association of British Insurers
Nicola Pitts	Independent Networks Association
Dominic Collyer	City & Guilds
Oliver Shutts	Grape Tree
Daniel Platt	Heathrow Airport
Peter Middlehurst	Premier League
Illona Karpanos	Cambridge Chamber of Commerce
Yselka Farmer	BEAMA
Siobahn Meikle	Eaton
Gareth Quinn	BP

Tamworth constituency Roundtable (13 December 2024)
Nova Arkney	Tamworth Borough Council
Paul Barnes	Cloud Accounting Support Services
Rob Barnes	Tamworth Borough Council
Neil Berry	HiB Bathrooms
Emma-Jane Bisseker	Reach Peak Performance
Mark Bradford	Punch Taverns
Diane Bridgen	Central Hub Logistics
Mark Brindley	Tamworth Info Biz
Kamila Claybrook	Orbi Packaging
Jon Dale	Punch Taverns
Onur Eren	Warwick Manufacturing Group
Alistair Fergusson	Alcon
Stephen Gabriel	Tamworth Borough Council
Nicola Gallagher	Lloyds Transport
Cathie Garnell	No18 Tamworth/Industry Barbers
Sally Gilson	Road Haulage Association
Sarah Gill	Christophers at The Peel
Fiona Gordon	Warwick Manufacturing Group
George Greenway	Tamworth Tap
Martin Hall	M Hall Management
Ben Hemmings	No18 Tamworth
Stephen Hynes	Hydrajaws
Lauren Jones	Statfold Narrow Gauge Museum
Nick Jones	South Staffs Paper Products
Raj Kandola	Greater Birmingham Chamber of Commerce (Tamworth/Lichfield)
Rachel Laver	Staffordshire Chamber of Commerce
Mark McDonagh	EBY Marketing
Gavin Mullaley	Cornerstone Partnership
Michael Osborne	Tamworth Enterprise Centre
Richard Parker	Mayor of the West Midlands
David Pilling	Energy Ombudsman
Tracy Pound	Maxmity
Peter Robinson	Prizm Insurance
Mark Roe	South Staffs Paper Products
Fiona Rouse	PI-KEM
Colin Rouse	PI-KEM
Onkar Sandhu	Sandhu Stores, Nisa Mileoak
Allen Simpson	UK Hospitality
Paul Stanford	Cornerstone Partnership
Charlotte Steel	Bolt IT
Becky Stubbs	Staffordshire Chamber of Commerce
Mark Swift	WMG, University of Warwick
Kate Warnaby	Greater Birmingham Chamber of Commerce
Dan Welsh	Tamworth Co-op
Ferdy Wilans	Road Haulage Association
Chris	The Bulls Head, Shenstone
Richard Wright	Wearwell

North Warwickshire and Bedford constituency roundtable
Amy Foster	Nomad HR and Recruitment
Sarah Windrum	Horiba Mira
Lee Corden	Advent Communications
Lee Osborne	Federation of Small Business
Sue Tonks	Federation of Small Business

Online survey responses

Some of the survey responses were anonymous. Where the responder added their details, the organisation name has been included in the list below:

ABTA – The Travel Association

ACS Clothing Limited

AERALIS Ltd

Airlines UK

Alexander Dennis

ASBCI

Association for Consultancy and Engineering and Environmental Industries Commission

Association of International Retail

AstraZenica

B Lab UK

Benmahar Ltd

Bespak

Bloom Procurement Services

The Boeing Company

British Beer and Pub Association

British Chambers of Commerce

British Coatings Federation

British Metals Recycling Association

British Private Equity and Venture Capital Association

Broadwave

Budweiser Brewing Group UK & Ireland

Business LDN

Central Hub Logistics Ltd and Central Fleet Management Ltd

Centre for Long-Term Resilience

CityUK

Chartered Governance Institute UK & Ireland

The Chartered Institute of Export & International Trade

Chartered Institute of Management Accountants (CIMA)

Chilled Food Association

Choose Occupational Health

Cloud Accounting Support Services Ltd

Compassion in World Farming

Confederation Generale des Enterprises du Maroc (CGEM)

Construction Plant-hire Association

Co-operatives UK

Creative UK

Deloitte

Diageo

DJI

Domestic Angels

DXC Technology

E3G

Electric Glass Fiber UK Ltd

Eli Lilly and Company

Employee Ownership Association

Enertechnos

Events Industry Alliance

Fairtrade Foundation

Fashion-Enter Ltd

Ferrero UK Ltd

Finance and Leasing Association

FirstGroup

Fisher Landscapes

Flight Patrol

Foodchain & Biomass Renewables Association

The Food and Drink Federation

Fortescue

Friends of the Earth

GAP Hire Solutions

Global Justice Now

Good Business Charter

Grow Global

HC-One

Heineken

Horticultural Trades Association

ICAEW

Infosys

Institute and Faculty of Actuaries

International Economics Consulting Ltd

Institute of Directors

Insurtech UK

IPSE – The Self-Employment Association

Ipsen Ltd

Jazz Pharmaceuticals

J&T Systems Ltd

Johnson & Johnson Innovative Medicine

Labour Behind the Label

Liquid Gas UK

Liverpool City Region Combined Authority

The Manufacturing Technology Centre (MTC)

Molson Coors Beverage Company Western Europe

National Sheep Association

NBCUniversal

Nissan

Open Banking Limited

Optix Solutions Limited

Peak | MNZ Cluster

Performance Days

Pillow May Ltd

Portobello

Power to Change

Precision Health Technologies Accelerator

Provision Trade Federation (PTF)

PwC

Quoted Companies Alliance

RDF Industry Group

The Royal Institute of British Architects

RSPCA

RWE

techUK

Sage

Santander UK

SaveEnergy.Coop

School of Finance & Management , SOAS, University of London

Simplyhealth

Society of Maritime Industries

Solent University

StartUp to ScaleUP Club

STR Group

Suffolk Chamber of Commerce

Taylor Woodrow

The Bookseller Crow

The International Meat Trade Association

The Law Society

Trade Justice Movement

Transform Trade

UK Fashion & Textile Association

UK Trade Policy Observatory, and Centre for Inclusive Trade Policy

UK Wine and Spirit Trade Association

United Kingdom Accreditation Service

University of Warwick

USDAW

Vertical Aerospace

Vodafone

Walpole

We Care for Children

Western Gateway

Well-Safe Solutions

Whitehouse

Xero

Annex 3: Member Engagement Pack

Business and Trade Committee: Member Engagement

Our role as the House of Commons Business and Trade Committee is to shine a light on the most important issues in business and trade policy The Committee is asking Members to help us engage with key stakeholders to identify these issues.

Throughout November and December 2024, we are looking to hear from as many businesses, local government, trade unions, consumer groups and academics as possible.

We are looking to hear views on the Government’s goals to:

• Become the economy with the fastest sustained economic growth in the G7.
• Deliver a ‘pro-business, pro-worker’ agenda with rising living standards in every part of the United Kingdom.
• Develop closer trading relationships with others, including with the European Union.
• Maintain the UK’s status as a global leader in protecting consumers.

This engagement will allow the Business and Trade Committee to create the most impactful recommendations to the Department for Business and Trade to deliver change.

Members can support this engagement in three ways:

Conduct a roundtable in your constituency:

Members can support our engagement by conducting a roundtable. Members can use our discussion points, set out below in Annex 1, as a starting point for each roundtable. We would encourage Members to submit a summary of your discussion using our survey.

Ask your stakeholders to fill in our online survey:

BTC has launched an online engagement campaign to help us reach those we can’t meet in person. This includes a survey that stakeholders can complete to inform our priorities. BTC can also help you promote the survey through your social media (LinkedIn, X, and other platforms).

Suggest stakeholders to BTC to attend one of our events:

BTC will be hosting regional roundtables in Exeter, Cardiff, Oxford, the West Midlands, Manchester, and Glasgow, and we’d welcome suggestions of attendees from key groups from your regions.

List of Reports from the Committee during the current Parliament

All publications from the Committee are available on the publications page of the Committee’s website.

Session 2024–25

Number	Title	Reference
1st	Post Office and Horizon scandal redress: Unfinished business	HC 341

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Footnotes

1 Liaison Committee, Oral evidence: Evidence from the Prime Minister, HC 530, Q7

2 Business and Trade Committee, The Work of the Department for Business and Trade, HC450, Q1

3 Business and Trade Committee, The Work of the Department for Business and Trade, HC450, Q90

4 Business and Trade Committee, The Work of the Department for Business and Trade, HC450, Q90

5 FSC SME Export Taskforce Recommendations: Five priorities to increase small business exports

6 Companies Act 2006 (s.172)

7 Make Work Pay: Employment Rights Bill: Correspondence, Oral evidence transcripts, Written evidence

Formal Minutes

Tuesday 4 February 2025

Members present:

Liam Byrne, in the Chair

Antonia Bance

Sarah Edwards

Sonia Kumar

Charlie Maynard

Gregor Poynton

Joshua Reynolds

Matt Western

Rosie Wrighting

Draft Report (Priorities of the Business and Trade Committee), proposed by the Chair, brought up and read.

Ordered, That the draft Report be read a second time, paragraph by paragraph.

Paragraphs 1 to 56, read and agreed to.

Annexes agreed to.

Resolved, That the Report be the Second Report of the Committee to the House.

Ordered, That the Chair make the Report to the House.

[Adjourned till Tuesday 11 February at 2.00pm]