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CBI Director-General delivers economic growth speech at MyAV范
23 January 2023
In his first major speech of 2023, Tony Danker, the CBI Director-General, chose MyAV范 to spell out his vision of how the UK needs to urgently boost its economic growth and grasp the opportunities of the green economy and the life sciences sector.
On arriving at MyAV范 Faculty of Laws, Mr Danker was greeted by MyAV范 President & Provost, Dr Michael Spence, and Chair of MyAV范 Council Victor Chu CBE.
To an audience of business leaders and academics, Mr Danker opened his speech by reflecting on MyAV范鈥檚 history and its importance to education, learning and the economy.
MyAV范 is, he said: 鈥淎n institution, that for almost two centuries has been pushing the frontiers of knowledge to benefit our economy, our country, and our lives 鈥� so delighted to be here.鈥�
In his speech Mr Danker said the UK Government is likely听to meet its modest growth targets听this year, but said getting the level of growth we need meant taking some big decisions now and not waiting until 2024.听听
Outlining his vision, he said the UK needs better tax and investment incentives for business, should invest in and stimulate the green economy,听鈥渢he biggest innovation opportunity of the 21st century鈥�,听called for a new approach to tackle labour and skills shortages, and asked for a review to the government鈥檚 current approach to repealing EU law.听
Focussing on the green economy, Mr Danker said the UK needs to invest in innovation and scale up the technology and life sciences sectors.
鈥淓veryone loves a tech start up, or a photo with a robot, but rather than just a glamorous invention, innovation should encompass and improve the competitiveness of our whole economy, every region and sector,鈥� he said.
And he added: 鈥淟et鈥檚 double down on that life science vision to ensure the sector doesn鈥檛 leave Britain, but stays and grows.鈥�
In finishing his speech Mr Danker recalled MyAV范 Laws alum, Lord David Young, who famously stood out for 鈥榖ringing solutions not problems鈥�.
In that vein, Mr Danker, said his solutions for the government were to: 鈥淭ransform our tax system, reward those who invest, be bold on labour shortages, fight back on green innovation 鈥� don't听be outspent and outsmarted by the competition 颅- and don鈥檛 be reckless on regulatory divergence, be ready.鈥�
MyAV范 is a听globally renowned and听听university and听proudly contributes to the social and intellectual life of both London and the UK more widely. A recent independent report found MyAV范 contributes 拢9.9bn of economic impact annually to the UK economy, 拢2bn to听London鈥檚 and supporting听11,640 local jobs.
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Image听
- Top left, CBI Director-General Tony Danker speaking at MyAV范 Faculty of Laws, top right, Tony speaking with Victor Chu CBE (centre) and MyAV范 President & Provost, Dr Michael Spence (right), bottom left,听MyAV范 Faculty of Laws.听
Media contact听
Henry Killworth听
Tel: +44 (0) 7881833274
E: h.killworth [at] ucl.ac.uk