This is the web version of CEO Daily. To get it delivered to your inbox, Sign up here.
What does the company want from the new US administration? We asked this question in our most recent CEO survey in collaboration with Deloitte. We’ve allowed each CEO to choose their top three topics (which is why the percentages below don’t add up to 100%). Your answers:
Restoring confidence in government: 59%
COVID relief and economic recovery: 55%.
Climate change: 32%
Education / training of the workforce: 30%
Trade Policy / Tariffs: 21%
Reduction of public debt / public deficit: 20%
Healthcare affordability / coverage: 20%
Racial Justice: 19%
Foreign policy: 17%
Immigration Policy: 5%
Corporate tax policy: 4%
A number of interesting things about these answers. A decade ago, deleveraging was the economy’s favorite political hobby horse. Since then, federal debt has risen significantly and has exceeded the benchmark of 100% of GDP. However, business leaders clearly recognize that in today’s economy, where capital is abundant and interest rates are close to zero, other priorities deserve more attention.
Tax policy has now fallen to the bottom of the list. This is less of a surprise. These people know that when this government deals with corporate taxes, it will only be about raising them.
What I find most interesting, however, is that after dealing with the country’s political, economic and health crises, CEOs have three key areas in mind to work with the government: infrastructure, climate change and workforce training. Let’s hope the new administration does not exhaust its political and financial capital on the recovery bill so that it can work with businesses to address these three critical areas for building a better future.
We’ll discuss these priorities later today when members of capital CEO Initiative meet virtually (instead of our annual dinner in Davos). Among the 100 or so CEOs present there will be CEOs of Pfizer, CVS, Marriott, GM, Verizon, L’Oreal, Bank of America, Dassault, FedEx, Northrup Grumman, Ikea, working day, Hyatt, Occidental, Albertson, Nestle, PayPal, Edward Jones, Bridgewater, Progressive, HP, HPE, Levi, Kohl, UPS, Sanofi, Henry Schein and more. HRH The Prince of Wales also speaks about his Terra Carta initiative for the environment.
More about the CEO survey in Fortune Analytics, Here. More news below.