Annual Conference 2024: Business Highlights

At yesterday’s annual conference, business leaders and policymakers gathered to address the challenges and opportunities shaping the UK economy. Discussions focused on practical steps to stimulate growth, build resilience and support innovation in an increasingly competitive global environment.

There was optimism about the UK’s leadership on net zero and technology, but delegates stressed the need for urgent action in key areas to unlock long-term potential and ensure the UK remains at the forefront of global progress.

Stability, strategy and infrastructure

Speakers highlighted the need for a clear industrial strategy to support sustainable growth, with a particular focus on unlocking infrastructure projects that are key to the UK’s future. Simplifying spatial planning regulations has been identified as a priority, with the aim of accelerating the development of energy and transport and removing bottlenecks that currently slow down progress.

By tackling planning challenges, the UK can modernize its transport networks, improve connectivity and deliver large-scale renewable energy projects. It was also emphasized that public-private cooperation and community engagement are essential to overcome barriers and build trust in ambitious initiatives.

A well-defined strategy combined with decisive infrastructure action would create the basis for long-term investment and greater economic resilience. The CBI Blueprint for UK Competitiveness report identifies five key economic developments that need to be leveraged for the UK to gain a competitive advantage, and then outlines five policy tools to deliver this growth across all segments of the UK economy.

Download the report here.

Investment and risk

Risk emerged as a recurring theme, focusing on how companies can make bold investments amid economic uncertainty. While profitability remains key to reinvestment, delegates also called for closer cooperation between governments to reduce risks to large-scale innovation projects.

Rebuilding confidence in the UK as an investment destination has been a key priority. Leaders shared inspiring examples of successful risk-taking that led to breakthroughs, urging businesses to take a long-term view while benefiting from government support where possible.

Green growth and innovation

Optimism about decarbonization and technology was high. Panellists celebrated the UK’s position as a global leader in net zero energy and identified opportunities to drive growth through leading clean energy solutions. Attention was also paid to artificial intelligence and other advanced technologies as transformational tools to increase competitiveness and efficiency.

Speakers emphasized that decarbonization is more than just a need for compliance; is a path to new markets and revitalization of the region.

Productivity and workforce

The main focus was on the continuing productivity challenge facing the UK. Rupert Soames OBE, chairman and chairman of the board of the CBI, urged companies to openly confront the issue of labor participation:

“We need to reduce the number of people out of work by about a million… that challenge will fall on the five and a half million private sector enterprises.”

Upgrading skills, better engagement in the labor market and the use of technology were considered important steps towards closing the productivity gap. Delegates called for stronger partnerships between businesses, governments and education to ensure workers are prepared to meet future demands.

Positive actions your company can take

• Collaborate with decision makers: Cooperation with the CBI to ensure that your company’s needs shape key policies, especially around infrastructure, energy and innovation.
• Choose innovation: Invest in artificial intelligence and other technologies to improve efficiency, increase productivity and position your business for the future.
• Improve the qualifications of your employees: Collaborate with local suppliers to fill skills gaps and develop the talent pool to meet emerging demands.
• Adopt sustainable growth strategies: Harness clean energy and decarbonization opportunities to drive growth, while supporting the UK’s net zero leadership.
• Collaborate to make an impact: Build partnerships across sectors and within your community to address common challenges and advance progress.

Get involved

Chancellor of the Exchequer Rachel Reeves highlighted the value of business contributions at the conference, saying: “We will be consulting on the Business Rates Bill… We will continue that consultation to make sure these investments are made correctly… There is no policy that cannot be improved through direct engagement with businesses.”

By sharing your views and taking part in CBI consultations, your business can directly influence the policies shaping the UK’s economic landscape. Speaking on behalf of business ensures that government decisions are based on real challenges and opportunities, creating the conditions for growth and success.

Engage in critical policy recommendations by joining CBIWorking Group on the Employment Actor Capital Markets Working Group.

The UK Competitiveness Plan is a key part of the CBI’s work on its industrial strategy, which aims to position the UK as a global leader in innovation, investment and growth. Similarly, our response to the government’s consultation on Invest 2035 ensures that business prospects are at the heart of decisions that will impact competitiveness in the coming years.

See the CBI’s full response to the consultation or contact us Mark Goldstone to learn how you can get involved in shaping the policies that matter most to your business.

Finally, write down the date next year’s annual conference: November 3, 2025. Collaborating with or sponsoring an event is a powerful way to showcase your business, influence the agenda and connect with leaders shaping the future of the UK economy. Get in touch to find out more.