View from Whitehall - October 2022

6 October 2022

The party conference season is over (for the Big Two at least) - and what a contrast it was.

In the Red Corner there was a renewed sense of belief helped by the Conservatives having elected a leader seemingly out of kilter with public opinion. The Labour frontbench team presented themselves as a competent team of experts whether it’s Shadow Chancellor Rachel Reeves’ background at the Bank of England, Jonathan Reynolds role as Shadow Business Secretary having covered the City and Work and Pensions’ briefs before that or Ed Miliband leading the charge for Labour on the environment which has been his passion since he was deposed as Party Leader.

In the Blue Corner the theme for the Government was about quelling internal dissent rather than taking it to the Opposition. As much as they want to change economic tack, polls suggest that now is not the time for economic radicalism. With backbenchers looking nervously over their shoulders, the U-turn on the 45p tax rate has only acted to give them strength that any threat to withdraw the Whip is an insufficient deterrent when juxtaposed against the risk of losing their seat.

Sir Keir Starmer told business delegates that he was looking forward to taking on the Government on the economy. With both parties adamant their business offering will be more popular, this presents an opportunity for the FLA to make the case as never before for a more pragmatic approach to regulation and investment.

Published 06 Oct 2022