The UK has much to offer

The UK has high debts and a daunting array of international challenges, but crucially, it has a government committed to fiscal responsibility and growth, which has already been rewarded with a growth pickup, and praise from the International Monetary Fund. Furthermore, the new Burnham administration has changed the mood of the country, and been rewarded with a poll boost, and diminished challenges from the Reform and Green parties. Together with up to three years before a general election, this means that the UK offers businesses more predictability than the United States, or some of our European and Middle-Eastern neighbours.

At the Labour annual conference in September, the Prime Minister, thankfully, ended the taboo on discussing the economic damage caused by Brexit and confirmed the intention to get back closer to the EU. A major German British Business Summit, at the Mansion House, this month underlined the severe impact Brexit has had on trade between the two major European economies. Trade Minister, Lord Anas Sarwar, in a keynote speech, made the case for closer German/British cooperation. The UK has important strengths in defence, renewable energy, capital markets, technology, higher education and more. But it is clear that in the more threatening world order that is emerging, these strengths can be used most effectively in a strong continental-scale economy.

We welcome the transition from paralysis and prevarication to policy-driven action, and hope to play our part in this transformation. We have three important roundtables lined up for the next month and we are working with the European Movement to launch a monthly ‘European Agenda’ meeting to focus on the key issues of importance to businesses conducting business in Europe.