Seize the moment

HOW CAN BUSINESS TRANSFORM THE UK ECONOMY?

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“Dynamic. Competitive. The most future-focused economy in the world. That’s the UK we need to build now – led by business to ensure we deliver economic and social progress.”

It's time to act.

In the wake of COVID-19, the new UK-EU relationship, rapid technological advancement and the climate challenge, we are all bearing witness to a defining opportunity to reset the UK economy. We’re at a crossroads, knowing future generations will judge the path we choose, determining our people’s success for years to come.

The UK’s challenges are sharply felt. We lag behind our international peers in productivity and investment, and opportunities are not fairly shared across society. But we’re stronger than we think. Our capital city, world-leading universities, creative industries and professional services are unparalleled.

To fully realise our strengths, we need an ambitious vision for our 2030 economy. A vision with business, and its ability to drive prosperity through providing jobs and supporting communities, at its heart. Together, we can transform broad government strategies into concrete plans for good jobs, better wages and greater innovation. But we must act now.

What could the future hold?

By 2030, the UK will see an acceleration in economic growth, with prosperity spread across every region. We will champion green growth, creating new technologies and jobs that accelerate the race to net-zero. The UK will be a scientific and innovation superpower where, just as we did when developing vaccines, science and business work in total partnership.

Diversity and inclusion become what we’re known for – where everyone can bring their authentic self to work, irrespective of background, age, gender, sexuality, race or disability. And companies will have stronger bonds with employees, providing meaningful work and a focus on wellbeing.

How much of this ambition we can achieve depends on every UK business playing their part and rallying in unison. And the CBI will lead on business efforts to seize these prizes, identifying how firms can grab opportunities now in ways that benefit our people, our communities, and environment.

THE SIZE OF THE PRIZE: FOR BUSINESS AND SOCIETY

WHERE COULD THE ECONOMY BE BY THE END OF THIS DECADE?

Protecting the planet for the next generation

Seize The Moment Decarbonisation Infographic

Winning the race to net-zero offers benefits to every single business, such as enhanced customer appeal – but it’s also the right thing to do for our society

Innovating towards greater productivity

Seize The Moment Innovation Infographic

An innovative economy improves competition, resulting in more choice and value for consumers, and helps the UK to lead the industries of the future

Making the UK a trading powerhouse

Seize The Moment Trade Infographic

A truly globalised economy benefits from increased output and productivity, which boost living standards, and offers consumers lower prices and more choice

Ensuring every UK region and nation thrives

Seize The Moment Regional Infographic

An economy that plays to every region’s distinctive strengths will empower communities, reducing long-standing inequalities and boosting regional prosperity

Building a more diverse and balanced society

Seize The Moment Inclusion Infographic

Diversity matters: not only because every person deserves equal chances to succeed, but increasing access to better educational and employment opportunities could add £139bn to GVA in 2030

Improving health, wellbeing and quality of life

Seize The Moment Health Infographic

A healthier nation, built on the foundation of wellbeing, could boost job satisfaction and business performance – and reduce health inequalities across the UK

How will we get there?

  • Decarbonisation
  • Innovation
  • Global trade
  • Thriving regions
  • Inclusion & skills
  • Health

Winning the global race to net-zero really matters. Limiting the rise on global temperatures is fundamental to avoiding catastrophic impacts for all. Only business can provide the innovation and investment needed to succeed.

Here's how to seize the moment

Breakthrough ideas and technologies, adopted by all, will create higher value jobs and healthier lives. By leading the way in the industries of the future, we’ll transform the landscape of the UK economy.

Here's how to seize the moment

Trade underpins our economy – but the UK’s global share is in decline. Now is the time for tangible change. Making the UK a trading powerhouse will create jobs, raise incomes and improve living standards.

Here's how to seize the moment

Ensuring every region and nation has distinctive strengths will rectify disparities that have impacted living standards for decades. We must close the gaps and guarantee a brighter future for all – no matter where in the UK you are.

Here's how to seize the moment

Where work enables all talent to progress. The UK is one of the least socially mobile nations among its peers. Everyone – irrespective of their background and identity – must have equal opportunities to grow and develop.

Here's how to seize the moment

Health is the foundation of wellbeing and economic growth and the driver of life satisfaction. Poor health has a huge societal and economic cost but, by focusing on wellbeing, UK businesses can help improve the quality of life of all employees.

Here's how to seize the moment

What's already being done?

Devolved government strategies

In Northern Ireland, the Executive has outlined its plan for rebuilding; the Scottish Government has responded to the Advisory Group on Economic Recovery; and Wales has produced a plan for recovering from the economic damage of COVID-19.

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Political perspectives

In a recent speech, the Labour Party outlined how the coronavirus pandemic has created a moment to think about the country that we want to be. And the Liberal Democrats outlined the UK’s opportunity to become a world leader in green energy, with decarbonisation driving the economic recovery.

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Resolution Foundation’s Economic Inquiry

The Economic Inquiry aims to understand the decade of economic change facing the UK and what it means for people, and it will set out a framework for navigating the challenges and opportunities that lie ahead in the next 10 years.

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Actions from the business community

The Covid Recovery Commission set out bold policy recommendations to ensure that the UK emerges from the crisis stronger, fairer and more resilient. And the FSB’s Good Business Pays campaign demonstrates the positive impacts of paying the supply chain promptly.

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