UK Sets Up 5 Business Councils to Advise Prime Minister on Post-Brexit Policies

"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," May said, commenting on the initiative.

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The five councils will be Telecoms, Creative, Technology and Media; Industrial, Infrastructure and Manufacturing; Small Business, Scale ups and Entrepreneurs; Financial, Professional and Education Services; and Consumer, Retail and Life Sciences, the government said.

It is planned that each council will meet three times a year: twice with the participation of the prime minister, and once with a senior cabinet minister.

The councils will also be a platform for the government to develop policy initiatives and evaluate them, the government said.

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Each of the councils will have two co-chairs and about ten participants representing key sectors of UK economy, as well as representatives of key business associations.

The United Kingdom will leave the European Union on March 29, 2019, with the transition period set to end in December 2020. Nevertheless, London and Brussels still have not reached an agreement on a number of issues, such as the Irish border and the post-Brexit economic relations.