The UK could escape suffering the worst Covid 19 hit among the G7 nations, as predicted by the IMF, but it would require some deft policymaking to focus Bank of England and Government actions on targeting growth and implementing a coherent strategy for structural change. This was the broad conclusion of Andrew Smith, Chief Economic Adviser to the Industry Forum at an expert virtual roundtable on ‘UK Economic Prospects for 2022 and Beyond’. CEBR Chief Economic Adviser, Vicky Pryce, contrasted UK performance with that of the EU and pointed out the need for a proper carbon pricing strategy to avoid the UK importing carbon intensive materials. Kate Bell, Head of the TUC’s Rights, International, Social and Economics Department, highlighted the lack of growth in workers’ pay since 2009 and the need for an industrial strategy to address this and many other issues.
For further information and summary report please email jwyer@industry-forum.org

Speakers:

Andrew Smith, Chief Economic Adviser, Industry Forum

Vicky Pryce, Chief Economic Adviser, CEBR

Kate Bell, Head of Rights, International, Social and Economics Dept., TUC

The vast scale of the potential changes and opportunities presented by quantum computing were outlined today at an Industry Forum virtual roundtable on ‘The Policy Implications of Quantum Computing’. Leading the discussion was Ilias Khan, CEO of Cambridge Quantum Computing, who highlighted the intense interest from countries such as Germany, China and the US, the high levels of investment by major digital technology companies, and the sky-high valuations of some pre-revenue startups. Marina Jirotka, Professor of Human Centred Computing at Oxford University, and colleagues Philip Inglesant and Carolyn Ten Holter described the research work they have undertaken leading to the launch of their new report ‘Creating a Responsible Quantum Future’. Overall it was clear that the UK is one of the leaders in quantum computing and this could bring big business opportunities and associated economic benefits. Avoiding some of the mistakes made when previous major digital technology changes occurred will, however, require planning and resourcing that must be coordinated and involve central government.
For more information and a copy of the report, please email jwyer@industry-forum.org

Speakers include:

Chi Onwurah MP, Shadow Minister Digital, Science & Technology

Ilyas Khan, CEO, Cambridge Quantum Computing

Marina Jirotka, Professor of Human Centred Computing, University of Oxford

Carolyn Ten Holter, Research Assistant, University of Oxford

Philip Inglesant, Post-Doctoral Research Associate, University of Oxford

The UK response to the COVID pandemic has established our global reputation as a scientific leader in life sciences. Key to this success has been the collaborative approach between the scientific community, the pharmaceutical industry, and the NHS.  The recently published Life Sciences Vision sets out how the Government intends to build on this to position the UK as the leading global hub for life sciences. The challenges are to provide the right incentives for companies to work with the scientific community to develop and deliver new drugs and therapies in the UK, and to do this within an affordable budget, while ensuring that patients have access to new and innovative medicines. This policy workshop will look at existing hurdles and how these could be addressed by collaborative planning, streamlining approval procedures, and by new approaches to the access and uptake of new medicines. The expert panel will discuss the key policy initiatives needed and what the benefits might be.

Speakers :

Anne Marie Morris MP, Chair of the APPG on Access to Medicines and Medical Devices

Gail Grant, Head of Government Affairs, AbbVie

Michael Finn, Life Sciences Partner, Pinsent Masons

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Following the departure of the UK from the European Union, and the advent of a new US administration there are opportunities to expand and deepen trade and commerce between the two nations. Rosemary Gallant, Minister Counselor for Commercial Affairs at the US London Embassy will lead the discussion.

Respondents include:

Matt Houlihan, Senior Director, Government and Corporate Affairs, Cisco Systems

Tom Williams, CEO, Enebio Ltd

Rosa Crawford, Policy Officer, Trades Union Congress (TUC)

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Supply problems during the pandemic have exposed the risks of depending on just-in-time supply from foreign manufacturers. Furthermore, heightened security concerns are making western governments opposed to the use of some Chinese technology products in vital infrastructure. There is thus a need and an opportunity to expand UK manufacturing to address these newly apparent risks and harness British research, skills and innovations. Stephen Kinnock MP, Shadow Minister for Asia & the Pacific will lead a discussion of the steps we could take to create a UK manufacturing renaissance to provide more high value jobs and to increase UK prosperity and security.

Respondents include:

James Selka, CEO, Manufacturing Technologies Association

Jennifer Pheasey, Head of Policy, The Society of Motor Manufacturers and Traders

Robert McIlveen, Director of Public Affairs, Mineral Products Association

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The Covid 19 crisis has dominated thinking and planning for the past year but now, as the dangers are apparently receding, old issues about pensions and benefits are re-emerging and some now ones have appeared. The Department for Work and Pensions needs to prepare for the changes in the world of work that have been accelerated by the pandemic. It also needs to ensure that the systems and benefits now in place are adequate to meet new and sometimes greater needs that have been revealed. In the light of the new pension freedoms of the past decade, it is necessary to ensure that savers can safely exercise and enjoy these freedoms. Pension stewardship has also become a critical issue with increasing pressures to divert investment from fossil fuels to renewable energy. The Rt Hon Stephen Timms MP, Chair of the Work and Pensions Select Committee, will outline the current work of the committee and lead a discussion of such issues.

Responses from:

Anna Coote, Principal Fellow, New Economics Foundation

Mark Baker, Partner, Pinsents Masons LLP

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