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Pitched by Downing Street as a body to report “from the business frontlines”, 14 executives and bosses will attend the meeting.
Other companies represented include NatWest, Sainsbury’s, Vodafone and BAE Systems.
Mr Sunak said: “The more businesses innovate and invest, the more we grow and create good jobs right across the country.
“I look forward to hearing first-hand from business leaders about how we can break down the barriers they face and unlock new opportunities for them to thrive.
“My new Business Council is one of the many ways we are making the UK the best place to do business and invest, so we can future-proof and grow our economy.”
The gathering on Tuesday will also include a reception for around 100 businesses to celebrate British enterprise.
The council is intended to meet biannually, with the terms of membership lasting until the end of the year.
Shell CEO Wael Sawan said it was an honour to join the business council to “help drive prosperity and growth in the UK, specifically through the provision of secure, affordable and cleaner energy”.
He said: “The economic and societal challenges we face today require candid collaboration between government and business to deliver the undoubted growth potential that we have in this country.”
AstraZeneca chief executive Pascal Soriot said: “The private sector has a vital role to play working with government and society to build a sustainable economy.
“I look forward to productive discussions on matters affecting the UK’s growth agenda and efforts to truly become a global science superpower creating high value enterprises, jobs and advancing the UK’s global net zero ambitions.”
Charles Woodburn, the BAE boss, said: “It’s more important than ever that government and industry work closely together and as one of the UK’s largest employers, playing a key role in supporting national security as well as economic prosperity, I’m looking forward to discussing how we can help drive growth and attract investment into the UK as part of the new Business Council.”
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