Certainty about the post-lockdown world we will 're-enter', while keeping the economy as open as possible, is the “best possible short-term remedy for jobs and survival” according to a senior figure at the CBI.
Matthew Fell, chief 海角视频 policy director at the leading business organisation, was ‘virtually’ back on home turf as he addressed the Humber Local Enterprise Partnership AGM, having grown up in the East Riding.
And he spelled out exactly what companies from across the country require in the short, medium and long term as the storm is weathered and recovery starts - drawing on a war hero’s words as he scanned the economic horizon.
Mr Fell, who has served the CBI for 21 years, and is responsible for developing and shaping the domestic policy agenda, said: “In the short term the best possible remedy for jobs and survival is keeping the economy as open as possible, with Covid-secure workplaces, testing and a vaccine.
“This is further helped by as much clarity, as soon as possible, of what world we will emerge into when the restrictions of lockdown lift on December 2. We need the right levels of support to see firms through to the other side, so companies can plan with certainty, not have to live with day-to-day ambiguity.”
Turning to the other huge issue that requires the same level of detail, Mr Fell said: “Were it not for the Covid crisis Brexit would have dominated our thoughts this year.
“The reality for business is the pandemic has damaged preparations for Britain leaving the EU. The resilience of stockpiles and cash have long since been used up on Covid. Management time has understandably been diverted elsewhere, and of course with only weeks to go, business still doesn't know what it is preparing for.
“We are optimistic a deal will be reached, and we are clear why it matters for business, not just because it is the best way of mitigating against the threat of tariffs and quotas, but because however skinny the deal may be, it does offer the best platform and opportunity to be able to build in it in the future.”
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On how to deal with the “two significant shocks” as well as the pace of change of technology and “the biggest existential challenge of all, climate change,” Mr Fell said: “We need to work with bifocal lenses, to take action for survival in the short term and prepare for the long term, the end goal, the compelling economic vision for the 海角视频 - shaped by business, competitive, dynamic, and progressive, playing to areas of future strength in green, digital and healthcare, amongst others.”
With all three key pillars in the Hull economy, it was grounds for optimism, as he explained the need for strong emphasis on retraining, shaping the environment for business creation and ensuring the right incentives are there for businesses to invest in the 海角视频.
“Covid has dominated all our thinking in 2020 it has had a major impact on lives and on livelihoods and its impact has fallen unevenly across society and across the country,” he said.
“For business the impact has been significant. First in terms of day-to-day survival, where looking after employees and protecting jobs has been companies’ first instinct. The agility shown by firms to achieve this has been nothing short of amazing.
“At the CBI we have worked tirelessly to develop the support schemes to sustain business and employment, not least through the furlough scheme which has been a lifeline for so many.
“Businesses stepped up in so many ways on the health aspect of Covid, ensuring the physical health of their employees and customers by making their workplaces Covid secure, and increasingly with the mental health challenges which have come with a prolonged period of lockdown and isolation. There are, of course, ongoing challenges, how to lead and maintain company culture when people are working remotely, how to train and develop people in a virtual context and how to onboard young people coming into the world of work.
Finally how to maintain the innovation that comes with chance encounters. As one firm put it to me ‘how do you get coincidence happening deliberately?’.
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“There are some positives to take from the crisis. The level of collaboration between government and business on some of the support packages has been first rate, the way that businesses have stepped up to demonstrate the vital role they play in society, whether that be the ventilator challenge, gin producers transforming themselves to produce hand sanitiser or our world-beating life sciences sector, working tirelessly to roll out mass-testing and develop a vaccine.
“More than anything, for me, has been the resolve and commitment from businesses to ensure that we build back better from this crisis.
“There will be plenty of lasting change from the pandemic, in working patterns, in reinventing what companies use offices for, changes to business travel and consumer preferences to shop online and local. All will have profound impacts on the economy.
“We’ve found powerful collaboration, working together can achieve so much more, because in the words of Alan Turing, 'though we can only see a short distance ahead, we can see plenty there that needs to be done'.”