Gordon Brown is set to appoint a string of the country's most senior business figures to a new committee which will call him to account when his policies look like damaging Britain's competitiveness.

Stuart Rose, Sir Terry Leahy, Arun Sarin and Stephen Green, the chief executives of Marks & Spencer, Tesco, Vodafone and HSBC respectively, have all agreed to sit on the business council, which will meet two or three times a year to advise the new Prime Minister.

Tony Hayward, chief executive of BP, Sir John Rose, chief executive of Rolls-Royce, Mervyn Davies, chairman of Standard Chartered and JP Garnier, chief executive of GlaxoSmithKline will also sit on the council, according to the BBC.

Damon Buffini, managing partner of Permira, will complete the council and provide the perspective of the private equity industry.

As well as holding regular meetings, Mr Brown will also be able to call on the members of the council as and when he needs advice.

Mr Davies is understood to be chairing the committee, set up in an attempt by Mr Brown to cement the support of business leaders.

Mr Brown is widely thought to be considering changes in the structure of the Department of Trade and Industry. Some form of announcement on the future structure of the department, which acts as the voice of business at the cabinet table, is expected this week.

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