It underlines Theresa May’s determination to get businesses on side after some complained at having their Brexit concerns ignored.
Each of the new Business Councils will aim to meet three times a year – twice with the Prime Minister, and once with a senior Cabinet Minister.
They will provide advice and policy recommendations on critical issues affecting business, as well as giving their views on proposals from the Government.
Each has two or three co-chairs who are chief executives or chairmen of their companies and they will meet Mrs May at Downing Street on Wednesday to discuss their objectives and other issues such as productivity and investment.
Mrs May said ahead of the meeting: “Brexit presents a huge opportunity to build a better, stronger economy for people all over the country so I’ve asked these new councils to advise us on the opportunities and challenges facing business as we shape the UK for the future.”
None of the participants will receive salary or expenses.
The five councils cover: telecoms, the creative industries, technology and media, co-chaired by BT and ITV chiefs; industrial, infrastructure and manufacturing, headed by the bosses of BAE Systems and Rolls Royce; small business, scale-ups and entrepreneurs, under the leaders of Timpson, Founders Forum and Enterprise Nation; financial, professional and education services, under the chairmen of Prudential and Santander UK; and consumer, retail and life sciences, under the bosses of Tesco and GSK.