‘Working with Lord Sacks and Jewish students prepared me to lead the CBI’
Tony Danker, Director-General of the Confederation of British Industry, reflects on his previous high profile job in the community, as he looks ahead to the Spring Budget
The head of the Confederation of British industry has spoken about how working with the late Lord Sacks and chairing the Union of Jewish Students helped prepare him for his current challenge.
Tony Danker was appointed Director-General of the CBI in November 2020, amid a national lockdown, placing him in a position of prominence at arguably one of the most crucial economic times to take over at the CBI helm. But not the first time Danker has undertaken a high-profile role.
He tells the Jewish News: “In a funny kind of way that (when he was chair of the UJS) was the last time I did a job like this.
“It was very high profile. I spent a lot of my life with business leaders in the community, talking to the media and at dinner tables with the Chief Rabbi and then I went off and got a ‘real’ job you might say.”
Danker spent ten years at McKinsey before becoming a special adviser at the HM Treasury during the Gordon Brown years. He has also held positions at the Guardian News & Media and been CEO of Be the Business, a business-led movement created to transform UK’s productivity founded by a group of FTSE-100 Chairmen and the former Chancellor of the Exchequer, George Osborne, and now, “here we are again,” says Danker, who recently launched the CBI’s calls on the Government for the Spring Budget (on 15 March) to get the economy growing again and out of any recession sooner rather than later.
The CBI has identified four key areas where the Government needs to act in the Budget: Get businesses investing, solve labour skills and shortages, help get firms ready for next winter’s energy pressures and boost green growth in the face of international competition.
One of their biggest asks is to replace the Super-deduction, which is coming to an end, by either introducing full expensing for capital investment, or setting out a roadmap towards doing so, starting at 50 per cent in April. “This would be a huge boost to firms. It would give them a huge reason to believe in the opportunities we still have as a nation and give them the confidence to invest in that future.”
This sits alongside the call for the government to tackle the acute labour shortages by expanding childcare support and health support that firms can offer employees and reforming the Apprenticeship Levy.
“The tight labour market and economic inactivity is another big concern for all businesses across all sectors,” notes Belfast-born Danker. “With more than one million vacancies and UK parents facing some of the highest childcare costs in the OECD, we need to see immediate action to urgently solve the labour challenge. Without it, businesses are left trying to grow, invest and become more productive with one hand tied behind their backs.”
The CBI has also continued its emphasis on unleashing green markets and energy resilience – supporting firms to be more energy efficient as they prepare for next winter, as well as ensuring the UK can grow its energy security and compete in the race for new green markets and technologies.
“Because if we fail to grasp the opportunities now, we will damage UK growth today and for decades to come.
Working in the Jewish community gave Danker early exposure to business people and leaders. “I was 21-24 at the time so that was a really big deal.
“Whether Sir Trevor Chinn or Lord Michael Levy, I was exposed to them from very young and I think that had a very positive impact on me.
He spent two years working in the office of the Chief Rabbi, the late Lord Sacks, who he affectionately refers to as “The Chief, where he “saw from a very young the idea of the public sphere and within national debate how Britain talks to itself about itself. I learnt that there. Now I found myself in that world but from an economic and business point of view, and it behaves similarly – how Britain talks and debates with itself – and I feel I had a real advantage and privilege to get that insight when I was younger working in the community.”
A member of Barnet Synagogue, Danker says he leant “so much” from Lord Sacks.
“He found ways to speak in a way that was incredibly relevant to everybody but was born of Jewish teachings and we were in all awe of that skill.”
The UK’s economy hangs in the balance this year. While the country may not fall into recession, it is likely to feel like one for millions of people as rising inflation, a tight labour market and continued pressures on energy prices make for a pretty bleak backdrop. Can Danker offer any hope?
“Yes I can. We had a bad 2022 but 2023 has started well in so much as we have a Prime Minister and a Chancellor that are completely united in their common policy and putting stability first and I think they have stabilised the situation.
“I’m not pessimistic. I have very high expectations and ambitions for UK PLC. We know the economy can – and must – break out of its low growth trap, but we will need action to achieve it.”
The Spring Budget takes place on Wednesday 15 March
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