Post-pandemic economic growth
Objectives of the consultation
This inquiry, issued by the Business, Energy and Industrial Strategy (BEIS) Committee, looked at the options available to Government to secure economic recovery from the impact of Covid-19; covering investment, industrial strategy, jobs, skills, exports and sustainable growth.
The inquiry focused on the following key questions (which cover immediate and longer-term issues):
- What core/guiding principles should the Government adopt/prioritise in its recovery package, and why?
- How can the Government borrow and/or invest to help the UK deliver on these principles?
- What measures and support will businesses need to rebuild consumer confidence and stimulate growth that is sustainable, both economically and environmentally?
- Whether the government should give a higher priority to environmental goals in future support?
- Whether the Government should prioritise certain sectors within its recovery package, and if so, what criteria should it use when making such decisions? What conditions, if any, should it attach to future support?
- How can the Government best retain key skills and reskill and upskill the UK workforce to support the recovery and sustainable growth?
- Is the Industrial Strategy still a relevant and appropriate vehicle through which to deliver post pandemic growth?
- How should regional and local government in England, (including the role of powerhouses, LEPs and growth hubs, mayoralties, and councils) be reformed and better equipped to deliver growth locally?
- What opportunities does this provide to reset the economy to drive forward progress on broader Government priorities, including (but not limited to) Net Zero, the UK outside of the EU and the ‘levelling up’ agenda? What should the Government do to ensure that delivering on these priorities does not exacerbate the vulnerability of businesses, consumers and communities/workers that have been impacted by COVID-19?
- What lessons should the Government learn from the pandemic about actions required to improve the UK’s resilience to future external shocks (including – but not limited to – health, financial, domestic and global supply chains and climate crises)?
- What opportunities exist for the UK economy post Brexit and the pandemic for export growth?
- What role might Government play as a shareholder or investor in businesses post-pandemic and how this should be governed, actioned and held to account?
The inquiry concluded on 17 July 2020.
CIBSE submitted a response to the inquiry and it will be published, amongst other submissions, on the BEIS Committee inquiry page.