Startups, corporates, investors, and all other business leaders in between: if there was a better time to seize influence in the UK, I'd like to hear it. It’s clear that the government is eager for your input to build a pro-business UK.
This was the message Labour conveyed when it hosted its latest Investment Summit.
By promising to rid restrictive regulation in favour of “growth, investment, and innovation”, it secured a record £63bn in investment to transform its key industries.
Finally, there was a refreshing acknowledgment that whereas the business community relies on the government, the government also depends on businesses to restore the economy to its former heights.
With this renewed confidence, the future of the UK is seemingly for business leaders to decide.
In the past, industry tycoons like Sir Alan Sugar, Richard Branson, and Sir James Dyson have helped shape the future of UK policy while cementing their own legacies. Now it’s time to ask: Who’s next?
The UK is at one of its most exciting junctures in recent years, with leaders now able to leverage their insights into market trends and challenges to guide more effective and relevant legislation.
For instance, leaders could promote more resources and support for promising SMEs, better entrepreneurial education for future talent, innovative technologies that aren’t stifled by regulation, and new strategies to mitigate inflation.
Alternatively, leaders might be bold and support recently opposed regulations, such as the government’s Employment Rights Bill, which aims to support workers within key industries such as construction and healthcare, giving them the real productivity boost they need.
It’s not just domestic leaders who are needed here, either. To reach the objective of becoming an AI power as the government hopes, it needs more overseas voices.
The PM has already reflected this ambition, having recently visited Brussels to rekindle the UK's relationship with the EU.
It's the perfect time to incentivise even more cross-border investment, dialogue about streamlining supply chains, simplified trade regulations, and pro-immigration policies for talent to travel in and out of the UK to accelerate productivity.
Of course, any real change in the UK will take time — and the government still has its skeptics. However, leaders must capitalise on this window of opportunity to put their heads above the parapet, provide feedback to the government, and guide their industries forward.
If the government listens, it will rebuild trust with the private sector, leading to better support and a more stable economy for years to come.
The government has shown its cards. Business leaders: It’s your move next.