30.04.20
IED Launches Commission for Economic Renewal
The Institute of Economic Development (IED) has launched the Commission for Economic Renewal today (Apr 30) analysing the policies and interventions required to put the UK in the best position to rebuild economies after the coronavirus pandemic.
By uniting some of the foremost economic development practitioners and academics to instigate the commission, and working together with the Ministry of Housing, Communities and Local Government (MHCLG) and Department for Business, Energy and Industrial Strategy (BEIS), the Institute is aiming to facilitate the recovery from the serious economic impacts of coronavirus.
Director of the IED, Keith Burge will be leading The Commission, with support from all Board members, and is inviting economic leaders to input their innovation and thoughts to further underpin the recovery.
Keith Burge said:
“The serious economic impacts of the coronavirus pandemic demand a considered response.
It is no exaggeration to say that thousands of businesses and hundreds and thousands of jobs are under threat, requiring the UK Government, the devolved administrations and a variety of other agencies to formulate robust and comprehensive strategies and action plans in order to mitigate these risks.
“The Commission for Economic Renewal brings together a wide variety of interests across economic development, with the single purpose of using their combined experience and expertise to help shape our economic futures. In doing so, the Commission will not necessarily seek to recreate that which went before, but will use this unique opportunity to explore how a more vibrant, sustainable, secure, fair and green economy can be built going forward.”
Political interventions to aid recovery will be explored, with consideration given to the impacts on specific sectors and regions. This involves finding the types of interventions most likely to have an effect, change social and environmental outcomes and represent good value for public money.
The Commission, set to convene in May, will look at infrastructure needs, research and innovation, business support, higher and further education, and local economic support, with plans to report in Autumn 2020.