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BritishAmerican Business has today unveiled its policy priorities, with recommendations to strengthen the US-UK economic corridor, amid political shifts in both nations.
With both the US and UK governments focusing on new industrial, trade and economic strategies, BAB’s 2024/25 Policy Agenda outlines several priority areas:
Creating Attractive, Investor-Friendly Markets
- BAB welcomes the UK’s focus on economic growth through the anticipated Industrial Strategy, and calls for the full implementation of the US infrastructure packages.
- BAB supports transatlantic cooperation in digital markets, AI, cybersecurity, and workforce skills development, calling for improved US-UK business mobility and competitive tax environments.
- BAB highlights the need for clear, investment-friendly regulatory frameworks to ensure both countries remain attractive for global investments.
Supporting Trade Growth
- BAB welcomes plans for a new UK Trade Strategy, which should complement and build on the UK’s Industrial Strategy.
- BAB calls on the US to return to an outward looking trade policy that improves market access.
- BAB supports calls from business for a comprehensive US-UK Free Trade Agreement.
Collaboration in Aerospace & Defence
- BAB highlights the importance of US-UK economic and security ties.
- BAB welcomes advances in US-UK space cooperation under the Atlantic Declaration; both Governments should deliver on the commitments agreed upon.
- Regarding AUKUS, BAB calls for greater partnership between government and industry.
Sustainability & Energy
- BAB calls for policies that promote investment in lower-carbon technologies and energy products, positioning the UK and US as leaders in the global energy transition.
- BAB supports efforts to scale renewable energy technologies, including Sustainable Aviation Fuels (SAF), nuclear, and fusion energy, while advocating for streamlined financing and regulatory alignment.
BAB calls on both governments to continue to deliver on the commitments set out in the Atlantic Declaration, including reaching a Critical Minerals Agreement and continued collaboration on AI. BAB also calls on the UK Government to implement the findings of the Harrington Review. While BAB welcomes plans from the UK government to promote standalone sector deals, it also asks that work continue on the US state-level MoU strategy.
The 2024/25 Policy Agenda builds on the insights from the BritishAmerican Business / Bain & Company Transatlantic Confidence Index, published in July.
Duncan Edwards, CEO of BritishAmerican Business, commented:
“This moment of political change presents a significant opportunity for both the US and UK to renew their commitment to a strong economic partnership. Now is the time for policymakers to adopt pro-growth strategies that benefit businesses on both sides of the Atlantic. This means that the US and UK must have globally competitive approaches to tax, regulation, employment, energy and the overall cost of doing business.
“BAB’s manifesto for the year ahead provides a clear framework for policymakers to create a thriving environment for businesses in both nations.
“BAB will continue to work closely with both governments and its membership to drive progress on these key priorities and strengthen the economic ties between the US and UK.”
Click here to read the full 2024/25 Policy Agenda.
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