‘Builders, do-ers and makers’ join together to launch Commission
4 December 2023
Some of the UK’s biggest employers and infrastructure investors including Forth Ports, Manchester Airports Group, CBRE, NAMRC, Mace as well as trade associations Make UK and the Association of British Insurers have today launched the Inclusive Growth Commission to help tackle our long-standing and highly impactful growth problem.
The Inclusive Growth Commission will develop practical ideas to address the challenge of a lack of growth in the economy, a systemic issue since the Global Crash of 2008. The next 12 months will see commissioners from leading capital-intensive businesses and expert advisers from the academic and think-tank world make proposals in the areas of investment, project delivery, work, health and skills to achieve fairer and inclusive growth for all parts of the United Kingdom.
The Commission believes that focus on capital - physical, financial, human and knowledge - is the key prism through which to view the growth problem:
Physical capital - housing as well as energy and transport infrastructure to allow key UK clusters to develop and become engines of growth.
Human capital - a healthy, skilled workforce able to participate in and fuel growth.
Financial capital - reliable flow of patient capital investment of sufficient scale to support development of future engines of growth.
Knowledge capital - an institutional network able to channel financial capital in a way that maximises the development of commercialisable ideas.
Commissioners
Ciaran Bird, Divisional President, CBRE
Hannah Gurga, Director-General, Association of British Insurers (ABI)
Jason Millett, CEO of Consultancy, Mace
Ken O'Toole, CEO, Manchester Airport Group
Charles Hammond, CEO, Forth Ports
Verity Davidge, Director of Policy, Make UK
Andrew Storer, Chief Executive, Nuclear Advanced Manufacturing Research Centre
Policy advisers include:
Dr Jessica Prestidge, Deputy Policy Director, Centre for Social Justice
Prof Richard Jones, Vice-President of Regional Innovation and Civic Engagement, University of Manchester
Luke Raikes, Policy Director, Fabian Society
Ciaran Bird, Divisional President, CBRE:
“This Commission offers a long-overdue look at what’s needed to prompt growth and boost the UK economy. Both Government and employers have a vital role to play, and our expertise will be invaluable to guide the solutions, particularly around capital investment, housing, planning and infrastructure. Consideration around how we can fast-track the UK’s green agenda and meet the UK’s Net Zero targets should be integral to many of the solutions. We look forward to working together as a collective to present a holistic way forward that will help the UK to better capitalise on its strengths and attract greater levels of investment.”
Hannah Gurga, Director-General, Association of British Insurers (ABI):
“The ABI is fully supportive of sustainable growth and investment that can benefit as many people as possible and I’m delighted to be joining the Inclusive Growth Commission as a Commissioner. Our members have committed £100bn to investment in green and good projects as a result of the incoming Solvency UK reforms, and our Investment Delivery Forum is leading conversations between the industry and investment community to drive and track this funding into infrastructure across the UK. We’re keen to share our expertise and look forward to playing a role in the IGC to inform discussion and policy direction on these crucial matters.”
Jason Millett, Deputy CEO, Mace:
“The delivery of good quality infrastructure is essential to ensuring economic growth in the UK. We look forward to working with other commission members to improve how the UK funds and delivery major infrastructure projects right across the country.”
Ken O'Toole, CEO, Manchester Airport Group:
“This Commission comes at a critical moment, as industry and policy-makers look to accelerate UK growth and ensure it benefits people in every part of the country. Airports are key drivers of productivity and the economy and, as the UK’s largest airports group, we have a unique contribution to make to this important work.”
Verity Davidge, Director of Policy, Make UK:
“Bringing together the levers for growth and concentrating on how to best implement them across the whole of the UK is key for delivering meaningful growth. This project looks to help Britain’s businesses reach their full potential and will look at this through the prism of harnessing the potential from industrial and geographical clusters.
“We are excited to be working with the Commission to help pull together best practices in finance, improving infrastructure, adopting new technologies and building the skills pipeline of the future industry so desperately needs and boost local economies across the whole of the country.”
Andrew Storer, Chief Executive, Nuclear Advanced Manufacturing Research Centre:
“I am very pleased to be part of this Commission and the important work we are doing to create the best possible environment for growth. The nuclear industry already plays an important role providing investment and well-paid jobs across the UK, but I want to look at how we can do more as we help deliver energy security and net zero emissions. Inclusive growth is key to this energy transition - not only because it’s the right thing to do, but because it’s the only way that the industry and the country can grow and prosper.
Charles Hammond OBE, CEO, Forth Ports:
“The Commission will unlock some of the answers to the greatest challenges facing society today, as we chart an accelerated pathway towards a decarbonised economy. Creating the conditions to future-proof UK infrastructure and increase domestic productivity are key to ensure that new green industries of tomorrow and their value chains are firmly rooted within these shores. This will spread the prosperity of trade to the communities surrounding ports. That’s our joint aim.”
Images from our launch event at the Royal Society can be found here.