Category: Trade and Competitiveness

How can we boost Britain’s productivity growth and trade post-Brexit? What role does national government play in creating an enabling macroeconomic environment, and how can it do this well?

This work stream connects into the development of regional and sector-based industrial strategies, as well as fiscal and monetary policy, competition policy, corporate governance and the impact of trade and globalisation on inward investment, the demand for skills and creation of quality jobs.

The case for the independent board

Engaged shareholders are seen as key to better corporate governance but are they the best people to ensure companies’ long-term interests?

Engaged shareholders are seen as key to better corporate governance but are they the best people to ensure companies’ long-term interests?

For the past two decades, at least since the 1992 Cadbury report, the corporate governance agenda has been dominated by shareholder responsibility. The current corporate governance code, though administered by the Financial Reporting Council, relies on shareholder activism to pursue its ambitions. A continuing chorus exhorts shareholders to do more, and the mission has expanded from corporate governance to environmental and social concerns.

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Seeking the ‘right hire’

Companies face a host of new challenges. Is the composition of their boards adapting fast enough to meet them?

Companies face a host of new challenges. Is the composition of their boards adapting fast enough to meet them?

The three subjects of greatest concern to the boardrooms of publicly listed companies today are – arguably – cybersecurity, digital transformation and reputational risk. They have all been thrown up by rapid change and altering markets. Yet boardrooms have barely changed at all, in construct or composition, raising questions as to the extent to which they are fit for purpose.

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Bigger is better for pension funds

Scaling-up pensions schemes would not just increase savers’ retirement incomes, it could have a significant impact on corporate governance and lead to better long-term returns

Scaling-up pensions schemes would not just increase savers’ retirement incomes, it could have a significant impact on corporate governance and lead to better long-term returns

The general election debate between the political parties was widely criticised by commentators for not tackling the underlying issues which face our economy and society. In particular, there was almost no focus on the United Kingdom’s woeful productivity record. Such a debate, including the way in which our wealth-creating institutions are governed, is too distant for most voters, but it remains the role of political leaders to demonstrate why these issues must be tackled. Continue reading “Bigger is better for pension funds”

We need a dynamic, democratic capitalism

The debate between left and right constrains the development of our political economy leading to stagnation. It’s time for a new agenda focusing on democratising access to land, education and finance

The substance of the recent general election debate does not bode well for the future of our economy and society. Britain’s inability to escape from its long-standing low rates of productivity growth – and the increasing amount of evidence that for the first time since the early 20^th century the younger generation will be poorer than their parents – was largely ignored during the run up to 5 May. Although politicians on both sides have acknowledged that living standards have stagnated with rising inequality, the electorate was merely offered more of the same by the right, while the left focussed on reducing inequality but generally failed to understand the importance of wealth creation. Progress, or the betterment of the human condition, has stalled – which is of great concern, as progress is crucial to the legitimation of our liberal democracy.

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Supporting investors and growth firms: A bottom-up approach to a Capital Markets Union

This publication focuses on how the Capital Markets Union might lead to tangible gains in investment and jobs growth. It is based on a micro analysis of the challenges faced by growth and innovative firms in six large member states

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High-growth and innovative firms are the drivers of tomorrow’s jobs and our future prosperity. Supporting these firms, including how they can access finance, should be one of the highest policy priorities of European governments. By seeking to provide deeper pools of capital across the EU for firms and reducing dependence on bank financing, the EU’s proposed Capital Markets Union initiative can make a significant contribution to this agenda.

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