The UK government is to establish a new, business-led UK productivity council to improve management skills and business productivity - following Chancellor Philip Hammond's Autumn statement.
The new initiative should encourage start-ups and small businesses to play a key role in narrowing the productivity gap between the UK and other developed nations.
If successful, the Council could unlock up to £100 billion gross value added each year.
Backed by £13m worth of Government seed funding, phased over three years, the new council was proposed following discussions among UK business leaders, the Confederation of British Industry (CBI) and the Institute of Directors (IoD).
The council will feature an advisory board, a chief executive and a five-strong leadership team, supported by up to 15 staff, drawing on the industry expertise of the business leaders that have contributed to date.
The new initiative should encourage start-ups and small businesses to play a key role in narrowing the productivity gap between the UK and other developed nations.
If successful, the Council could unlock up to £100 billion gross value added each year.
Backed by £13m worth of Government seed funding, phased over three years, the new council was proposed following discussions among UK business leaders, the Confederation of British Industry (CBI) and the Institute of Directors (IoD).
The council will feature an advisory board, a chief executive and a five-strong leadership team, supported by up to 15 staff, drawing on the industry expertise of the business leaders that have contributed to date.
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