Press release -

Department for Business, Innovation and Skills: Vince Cable establishes advisory group on business and economic policy

Business Secretary Vince Cable today announced the creation of a new group of experts to advise him on business and economic policy.

The Business Advisory Group will act as a sounding board for the Secretary of State and will be chaired by Lord Oakeshott of Seagrove Bay who will report directly to him. The panel will take the form of an ad hoc advisory board and its advice will be private and informal.

Secretary of State for Business Vince Cable said:

“Tackling the challenges facing business requires new ideas from a range of experts. Economic knowledge and commercial experience are essential to developing policy and this new panel will be critical to finding new ways to move the economy forward.”

Notes to editors

1. Lord Oakeshott is a Liberal Democrat spokesperson for Treasury and Work and Pensions. He studied economics at University and Nuffield College, Oxford. He was a city councillor and has been a pension fund investment manager since 1976.

Following university he worked at the Kenya Ministry of Finance and Economic Planning as an Overseas Development Institute/Nuffield Fellow.

He then worked as Special Adviser to Roy Jenkins from 1972 to 1976.

Lord Oakeshott was a Director of Warburg Investment Management and head of Courtaulds Pension Fund before starting his own business.

He became a peer in May 2000.

2. Further members will be confirmed in due course. Members will be unpaid and provide their advice in a personal capacity. They will continue to work for their current organisations.


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  • business secretary
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