The Covid Recovery Commission of ten business leaders, including chairs and chief executives representing AstraZeneca, Heathrow, Vodafone, Shell and Tesco, has published a major report today, 'Ambition 2030': A Partnership for Growth'.

The paper argues that, "the pandemic has had a bigger impact on our economy than any event in the last 300 years."

Analysis by the Commission reveals that the pandemic has exacerbated existing inequalities with unemployment, mortality rates and mental health cases rising fastest in the most deprived communities across the UK.

It also shows that 18 per cent of the most deprived people - 1.15 million people - in the UK are living in local authorities with the highest economic output.

The report sets out the case for a new compact between purpose-led business, government and civic leaders to deliver real and lasting change in every part of the country.

Key to the Prosperity Plan is the creation of a National Prosperity Scorecard. The Commission said this would set specific metrics against the Government's 'levelling up' plans to assess and track progress on a key set of social as well as economic indicators including employment and benefit dependency rates as well as health and educational outcomes.

Local leaders would also be tasked with developing their own Local Prosperity Plans to help drive growth in every part of the UK.

Tony Danker, CBI director general, said: "The Commission's findings provide yet another proof point of a growing consensus in the business community for industry and government to work together to take on the biggest issues we face.

"Business stands four-square on the need to create a fairer, more resilient economy post-Covid and to accelerate the race to net zero."