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The CBI responds to The Pensions Regulator’s consultation on the new defined benefit pensions funding framework, asking for an approach that will work for more businesses.
Katie Miller
Senior Policy Adviser
Understand what the discontinuation of the benchmark rate LIBOR means, and what you should expect from your lender in the coming months, in this new practical guide.
Ana Isabel Gallego
Senior Policy Adviser, FS, CBI
Businesses’ relationship with banks developed effectively during COVID-19; how can we ensure the same is true for the climate crisis and the need for businesses’ transition to net-zero.
As the voice of UK business, we campaign for the changes that deliver prosperity for all. As a policy maker, by working with business you can help drive that change. Find out more about the issues that matter.
Matthew Fell, CBI UK Chief Policy Director, said taking action now can help to maintain confidence and avoid further restrictions on businesses and households in the months ahead. He added:
“With the number of new local restrictions on the rise, the Government will need to take an urgent look at the business support packages for the autumn, including a successor to the furlough scheme.”
Tracy Black, CBI Scotland Director, stressed that getting a Brexit deal and building a successor to the hugely successful Job Retention Scheme are key to securing recovery in the near-term.
“If we are serious about doing everything in our power to protect firms, jobs and living standards, we need the UK and Scottish governments working together with real agility to further protect both lives and livelihoods. The coming weeks and months will be critical to our success.”
Matthew Percival, CBI Director of People and Skills, said while the easing of lockdown restrictions and a more flexible Job Retention Scheme in July led to the beginning of a recovery in vacancies and hours worked, warning signs of what is to come remain.
“Looking ahead, a successor to the Job Retention Scheme is needed to protect jobs and businesses.”
Dame Carolyn Fairbairn, CBI Director-General, noted that while it may feel like a time of fiercely competing goals - the biggest health crisis in living memory and climate change - they are not separate.
“The response to one affects success on the other. And the defining question is, how does the UK use this moment to rebuild our economy and the greener and stronger world we want to return to.”
CBI President, Lord Karan Bilimoria, highlighted the importance of diversity in the technology sector if it is to serve the whole of society.
"As the first BAME President of the CBI, the first Zoroastrian Parsi in the House of Lords, and as a young man of Indian background co-Founding Cobra beer in the 1980s London, I am passionate about sharing my experiences and supporting ethnic diversity through my role as CBI President."
