New at @SMFthinktank: Bounce Back Britain, a report on how a new approach by British business can help our economy and society recover from the pandemic. smf.co.uk/publications/b… 1/n
The report, written by Andrew O'Brien @SEUK_OBrien of @SocialEnt_UK, argues that business must invest more in people, innovation and communities. Andrew has written for @Telegraph about the report here: telegraph.co.uk/business/2020/… 2/
His report goes to the heart of the debate about modern corporate conduct: why don't companies invest more, since investment is good for their long-term prospects, as well as for the wider economy? 3/
His conclusion: it's not about tax. Ten years of corporate tax cuts after the financial crisis did not lead to any increase in business investment. 4/
So anyone thinking that business tax cuts are the way to encourage recovery is mistaken. Instead of financial incentives, government should use corporate governance law and the "bully pulpit" to push companies invest more. 5/
Lots more to come on this agenda, from @SMFthinktank, @SocialEnt_UK and others such as @ReGenerateTrust. Lots of executives and investors know that doing business better is the way out of this crisis. Politicians should listen. 6/
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