UK business leaders to advise on economic policy

Prime Minister David Cameron said on Friday he would meet a select group of business leaders every three months to seek advice on economic policy.

The 19-strong business advisory group includes outgoing HSBC Chairman Stephen Green, Sam Laidlaw, CEO of British Gas owner Centrica, GlaxoSmithKline boss Andrew Witty and Justin King from supermarket chain J Sainsbury.

The Conservative-Liberal Democrat coalition plans to slash spending as part of an austerity drive to cut a record budget deficit. Ministers hope the private sector will drive the economy forward as the public sector shrinks and sheds jobs.

“It is vital that we get these policies right as we take forward our plans to drive down the deficit and transform our economy,” Cameron said.

The group, which will also meet Chancellor George Osborne, Deputy Prime Minister Nick Clegg and business secretary Vince Cable, will be unpaid and will participate for an initial period of one year.
Source: Reuters