BCC sets out principles for safe restart of the UK economy

PolicyDepartment is proud to work with the British Chambers of Commerce on plans for a phased restart of the UK economy. Some of the outputs of this work were published over the weekend.

On Sunday, the British Chambers of Commerce (BCC) – a powerful business network representing Chambers in the UK and across the globe - published an open letter to the Prime Minister. It sets out principles for a phased restart of the UK economy as the country fights the Coronavirus pandemic. The plans draw on the extensive experience of its members and their first-hand understanding of the approaches being adopted internationally.

BCC plans are built around a three-phase journey:

1. Restart: a phased reopening of the economy

2. Rebuild: building resilience for firms and households

3. Renew: returning to prosperity and growth

The open letter sets out five steps for the ‘Restart’ phase:

• Safely reopen public spaces and restore services (including schools and public transport)

• Safely reopen workplaces and commercial spaces

• Minimise job losses and business failures

• Rebuild supply chains and customer bases; and

• Put the UK economy on a high-growth, high-wage and low unemployment trajectory as soon as possible

The full details and thinking behind this approach is included in the letter. Details of the ‘Rebuild’ and ‘Renew’ phases will be published in the future.

Covideconomics - Restart, Rebuild, Renew

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