Inclusive Growth Commission to address capital challenges

By 5 December 2023 Nuclear AMRC news

The Nuclear AMRC is supporting a new commission to address the lack of economic growth in the UK.

The Inclusive Growth Commission has been convened by prominent businesses and trade associations representing capital-intensive industry, and launched at the Royal Society on Thursday 23 November.

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 businesses and expert advisers from the academic and think-tank world working together to make proposals in the areas of investment, project delivery, work, health and skills to achieve fairer and inclusive growth for all parts of the UK.

The Commission is focusing on capital as the key prism through which to view the growth problem. Topics include:

  • 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.

Andrew Storer, CEO of the Nuclear AMRC, is a commissioner. He commented: “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.”

Inclusive Growth Commission logo

Other commissioners include:

  • Ciaran Bird, Divisional President, CBRE
  • Hannah Gurga, Director-General, Association of British Insurers (ABI)
  • Jason Millett, Deputy CEO, Mace
  • Ken O’Toole, CEO, Manchester Airport Group
  • Charles Hammond, CEO, Forth Ports
  • Verity Davidge, Director of Policy, Make UK
  • Chris O’Shea, CEO, Centrica

Policy advisors to the commission include:

  • Jeegar Kakkad, Director, Government Innovation, Tony Blair Institute
  • Dr Jessica Prestidge, Deputy Policy Director, Centre for Social Justice
  • Adam Hawksbee, Deputy Director, Onward
  • Prof Richard Jones, Vice-President of Regional Innovation and Civic Engagement, University of Manchester
  • Luke Raikes, Policy Director, Fabian Society