The Business Advisory Group will meet every three months and will advise on critical business and economic issues facing the country.
Deputy Prime Minister Nick Clegg, Chancellor George Osborne and Business Secretary Vince Cable will attend meetings of the group, which will be chaired by Mr Cameron.
The PM said:
The Deputy Prime Minister and I want to make sure the Government is getting really good high level advice from some of Britain’s leading business men and women. Having an advisory group with a range of experience and expertise should ensure that there is real interaction and discussion.
It is vital that we get these policies right as we take forward our plans to drive down the deficit and transform our economy. Our prize will be balanced growth, getting Britain working and ensuring our whole country shares in rising prosperity.
Members of the new group will be able to debate with the Prime Minister and senior ministers the priorities facing the economy, as well as strategically important sectors.
The discussions will be informal and participants will be expected to give their views on a personal basis.
Its membership contains senior figures from the retail, manufacturing, banking, defence, aviation and pharmaceutical industries.