How we can shape our own destiny as the pandemic eases - Becky Hart

The coronavirus has brought the global economy to its knees. But even though we will need to learn to live with it for some time to come, there is much we can do to shape our own destiny.

Many of the business leaders I’ve spoken to following their return from a welcome break in August are very committed to an autumn of action, with the aim of contributing where they can, to support a V-shaped recovery. They know how important it will be to have a recovery that flattens the unemployment curve.

To achieve this though will require huge amounts of collaboration. First, the Government and business must find ways to build greater confidence. More people are now dining out, holidaying, and visiting family and friends.

That same attitude now needs to extend to helping more people return to their workplaces confidently and safely. It will be an essential part of our recovery. 

In recent months, some of our busiest city centres have resembled ghost towns, missing the usual hustle and bustle of passing trade from office workers – and leaving many businesses on the edge.

For young people’s development, learning skills on the job and in the workplace is vital. With so few employees working on-site that means many apprenticeships or entry positions will be impossible to start.  

Remote working has been a real success for many firms and employees, and none of the many benefits should be lost. But for some, juggling work with childcare or missing companionship has been hard.

Things won’t return to how businesses operated pre-Covid-19, nor should they. But there is a middle ground to find as the economy reopens.

Every business must choose what is right for them and their staff. Children across our region have now returned to school or will be returning to school this week, and this reopening of classrooms is a vital first step towards rebuilding confidence and supporting people back to their place of work.

This must be backed by broader childcare provision and safe travel on public transport. And critically, ambitions for a turbo-charged testing system are welcome and would be transformative. 

  Secondly, we will need to manage risks in the months ahead. Many businesses – perfectly viable before the crisis – are by no means out of the woods yet and will be essential to any recovery. Government support for the economy has been second-to-none in the first wave of the crisis, saving countless jobs and livelihoods.

As support schemes begin to unwind, cash flow remains one of the biggest issues for Yorkshire and Humber businesses. Some firms are starting to bounce back, but for many others the recovery feels a long way off.

Finally, we need to look to 2021 and beyond. The Government has already made positive strides in its aim to drive greater investment for a greener, more innovative, higher-skilled economic future. It has displayed its appetite to build and renew the infrastructure that we need to power a sustainable recovery in all parts of the country. 

Looking forward also means expanding our horizons internationally. That begins first and foremost with a Brexit agreement supporting jobs and trade. A deal before the end of the year will allow the UK and EU to work together on the multitude of shared interests, from climate change to strengthening the WTO, unencumbered by bickering over Brexit.

 We are now setting the tone for the autumn and for years to come. The right decisions in the coming weeks will help to set us on a path to economic recovery, which matter both here, and right across the UK.

By Beckie Hart Yorkshire regional director – CBI

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