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The Industry Forum Ltd, 20 St Andrew Street, EC4A 3AG, London

The party's over?

Published:
25/06/2024
Category:

Polls predict that, on July 5th, a new, likely Labour-dominated, administration will take over a country ready for change. It may be like the day after a long and exuberant party with a need to clean up and get back to work. Foremost amongst the challenges will be to get the economy moving and sort out problems in public services. New ministers will face the need to remotivate and reenergise the public sector and rebuild the confidence of businesses, including some major international companies.

Without the scope to tax or borrow more, the big opportunities for growth are to encourage private sector investment and improve trading opportunities, especially with our European neighbours. Growth will gradually provide the tax revenues to improve public services, but demotivated staff will also require a new positive vision for how these services contribute to the society, and constructive reforms such as investment in better IT systems.

We have a House of Commons Business Reception for members and guests on the evening of 11 September. It will be sponsored by leading tech companies Workday and Vodafone, and Darren Jones MP, previously Shadow Chief Secretary to the Treasury has agreed to be the keynote speaker. We are also holding two fringe meetings at Labour's Liverpool conference on the subjects of AI and the contribution of Physics to the economy. These will be sponsored by SAP and the Institute of Physics respectively. Looking towards the end of the year, we are planning a Christmas reception for members and guests to meet some of the new government.

Over the period of the summer recess we have three research projects on big questions of significance for the economy, and for individual companies:

Why do we need a more united Europe?
How do we get UK climate plans back on track
What is the reality of AI in business?

We cancelled all scheduled meetings with MPs following the announcement of the General Election. We will reschedule events and add to our autumn programme as soon as possible after the election.