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Forge new post-COVID partnership with enterprise, bosses urge Johnson | Enterprise Information

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The government and the private sector should forge a new partnership to drive a post-pandemic recovery that could include larger financial contributions from companies to support political reform, some of the UK’s top leaders told Boris Johnson.

Sky News has received an open letter to the Prime Minister from the COVID Recovery Commission, a group formed last year under the chairmanship of Tesco chairman John Allan and that includes top executives from AstraZeneca, Heathrow Airport, Shell and Vodafone belong.

In it, executives acknowledge that building a “stronger, fairer and more resilient” economy “will include recognizing that the company’s place in the twenty-first century will be to serve more than shareholders”.

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The report contains ideas for apprenticeships

The letter will be accompanied by the publication of a report on Friday – Building Back Together – in which the Commission is increasing the prospect of private sector employers investing more in a more effective training program than the widely criticized training levy.

According to an insider, this could be done either through a fundamental reform of the tax that was introduced in 2017 or through its replacement altogether.

The Commission’s proposal is unusual in that others have called for the tax to be abolished altogether, but the big employers have so far not indicated their willingness to increase their investment in exchange for meaningful reforms.

People close to the group said it was also in discussions about proposing a major retraining and upgrading initiative and a new framework for business-government collaboration to better support their workforce in areas such as mental health care.

Other members of the commission include executives and board members from McKinsey, Babcock International, Admiral UK, Hitachi ABB and Blenheim Chalcot, the venture builder.

In the open letter to Mr Johnson, business leaders argue that “there needs to be a renewed relationship between government, private companies and society based on the co-creation and implementation of initiatives”.

General view of the London skyline as seen from Millbank Tower
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The Commission recognizes that the private sector needs to be “strengthened”

In recent months, there have been signs of a revival of the relationship between Downing Street and large business groups like the CBI after a long period of strained relations over the government’s handling of Brexit.

Mr. Johnson set up a board of business advisors that met for the first time last month.

The COVID Recovery Commission acknowledged in its letter that the private sector needed to be “strengthened” in relation to work.

“Companies already play an important role in our society, among other things as employers, investors and consultants in order to create jobs and drive economic growth,” the letter said.

“However, the role of business can and should go beyond this traditional view.

“Companies like those led by our commissioners are increasingly finding themselves supporting the achievement of common societal goals in ways that go beyond their core business activities.”

As part of supporting the post-COVID recovery, the commission said the UK would “call for a much more focused industrial strategy based on an honest assessment of our existing and future strengths”.

Boris Johnson in Solihull starts construction on HS2
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Mr. Johnson has established a council of business advisors

She named fintech – which is the subject of a separate report released Friday by businessman Ron Kalifa – and life sciences as two of the sectors that deserve greater ministerial focus.

Ministers must also implement an energy transition that “ensures that all communities benefit from green growth opportunities, including those traditionally involved in high-carbon industries,” he added.

The letter also included a commitment from its signatories that they will play an active role in achieving “fair and environmentally friendly recreation … as employers, investors and advisors, and through their footprint in the community”.

“This is especially true for large companies, which tend to have greater capacity to help workers retrain, the capital to invest in world-leading infrastructure, and the expertise to help suppliers become greener and more productive . “

The commission, set up last year by WPI Strategy, a business and public affairs consultancy, added that next week’s budget should “mark the start of a national conversation about what kind of Britain to emerge from the pandemic, beginning with a renewed business-government relationship based on collaboration and sharing “.

The final report is expected to be published in spring.