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Bringing the best business ideas together in support of our national recovery, with confidence, collaboration and innovation.
cross-party · cross-sector · cross-discipline
The Centre for Economic Recovery invites collaboration from across the country, we are seeking the most interesting ideas to support the nation’s recovery.
We are concerned that the state cannot plan an economic recovery without full participation from the private and public capital markets, industry and venture capital. If we work together, we can achieve more, more quickly and put into place an economy fit for the future without a life-long, heavy burden of national debt.
The public sector and the state cannot engineer a recovery alone. True long-term recovery can only stem from cross-sector collaboration that puts the private sector at its heart. We have an opportunity to implement new thinking that mobilises British business as the route to economic health, and empowers local civil society to rebuild the social fabric that strengthens local communities and local economies.
All businesses need confidence that if they invest together and take risk now, go back to work when they can, rebuild their companies and start new ones, that others will do the same. But confidence can only come from private sector leadership, underpinned by public sector support.
All workers need confidence that their ability to earn and contribute as productive and engaged members of our society will not be in continuous jeopardy. Forward-thinking skills are the way to arm us for the future and the ageing economy.
To mobilise investment, the private sector must be incentivised and equipped to collaborate through a unifying national plan, led by the best of Britain: a diverse group of leaders able to martial considerable social and financial capital from civil society, industry, education, impact investment and the charity sector.
Opening Recommendations
(i) Establishing public-private strategy task forces for each of our most vulnerable sectors;
(ii) Establish the UK Sovereign Wealth Fund by inviting UK pension funds to contribute a small percentage of their capital to a central fund, to re-invest in venture and growth capital opportunities in all regions;
(iii) Establish the UK Kick-Start Fund, a five year credit fund to mobilise private sector capital to support businesses in need of debt capital - this could be cornerstoned by the state (30% of total), catalysing private capital from investors looking to provide rescue capital to UK industry;
(iv) Allow Benefit Companies to be formed; allow entrepreneurs to form new companies whose articles allow the directors to do their best for all stakeholders;
(v) Create a new “One Million Jobs” campaign - encouraging employers to hire 18-25 year olds through eliminating national insurance obligations, as well as looking at all other ideas to encourage training and skill development. A number of us put a similar campaign together a few years ago to great effect.
A selection of papers
Please let us know if you would like your paper to be published here.
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