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I am today announcing the creation of a new Business Council for Britain to assist the Government in putting in place the right strategy to promote the long-term health of the UK economy.
The Council will comprise senior business leaders from a range of sectors, able to provide clear, independent advice on the reform priorities to enable business to compete in the global economy.
The Council will meet twice a year, chaired by a senior business person. It will report to the Government and to Parliament. Secretaries of State will attend meetings at the invitation of the Council.
The Council will:
* examine the progress the Government is making to improve the business environment in areas critical to the future of the economy;
* advise the Government on its ongoing policies and priorities;
* conduct its own reviews on the areas it believes will determine the future economic well-being of the UK; and
* where issues are particularly important, the Council will have the power to establish Special Commissions to make recommendations for reform.
To lead this work, I am today announcing the formation of the Department for Business, Enterprise and Regulatory Reform (BERR).
The new Department will be responsible for creating the conditions for business success, developing deeper and more effective engagement with business, with the ability to promote the competitiveness agenda across critical areas of Government policy. It will provide support for the new Business Council.