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26 May 2021

CBI - Seize the Moment

ECAtoday
CBI - Seize the Moment

Seize the Moment is CBI’s new economic strategy for the UK economy. The ambitious strategy sets out a vision for the decade ahead. It addresses what CBI sees as important as we endeavour to come out of the COVID pandemic, adjust to our new relationship with the EU, reach our 2050 net-zero target and contend with the ever-accelerating pace of technological change.

Seize the Moment calls for a decarbonised, innovative, and global UK economy. It joins the dots between thriving regions and the inclusive workforce needed to produce the very best talent for success. It also spells out how wellbeing and resilience are the foundations of future prosperity. 

At this a ‘once-in-a-generation’ moment, the CBI calls for the UK to come together to transform the economy. It highlights the partnership needed between government and business to achieve these prizes.

It has five asks of such a partnership: reforming the economic regulations for investment and innovation; developing economic clusters with distinctive regional advantage; freeing money which it describes as ‘trapped’ in the Apprenticeship Levy so that firms can invest in lifelong learning; creating a dialogue between the Treasury, Bank of England, and the CBI to bring together the whole value chain from investors to investees; and finally, setting out a long-term tax roadmap to restore the public finances, consistent with supporting business investment, the transition to net-zero and the UK's global competitiveness.

CBI says that by pursuing prizes such as decarbonisation, diversity and levelling up, businesses can lead a broader transformation that will not only benefit them, but also local communities and the whole country.  As such, the CBI sees the Seize the Moment strategy as a movement, rather than just a spring document.