For the past fortnight, the IoD Policy Team have been busy creating a series of ‘minifestos’ emphasising the most important topics they believe the new government should focus on after the general election on 8 June.
Whatever the outcome, the IoD is focused on lobbying government for the best interests of business. From our minifestos, spanning reforms to corporate governance and education, updating infrastructure and tax codes, regional growth, Brexit and more, we’ve highlighted eight of the highest priority recommendations for the next government.
- Ensuring we’ve got the right skills for an evolving economy
Automation and the rise of technology is changing our labour markets – and while predictions of job losses miss the mark, there’s no question that the skills we’ll need in 20 years’ time are different from the ones we need now. Ensuring that the school curriculum equips our young people not just to survive but thrive in the 21st century, and radically increasing the prevalence of retraining and adult up-skilling, will be crucial.
- Upgrading Britain’s infrastructure
IoD members right across the country tell us Britain’s infrastructure needs upgrading, from overhauling out-of-date rolling stock to equipping the country with truly superfast broadband. In a world of limited resources, making the right choices will be key
- Keeping the lights on
Reliable, affordable energy is crucial for any economy – and that means looking into the future and assessing the best ‘energy mix’ to fulfil our needs. These decisions aren’t always popular.
- Delivering an entrepreneurial tax code
Our labyrinthine tax code now runs into thousands of pages, but in a number of areas it’s crying out for change. These changes will be complex, so it’s important we start consulting early in the new Parliament – starting with much-needed reform to business rates and expanding reliefs for growing SMEs.
- Turning start-ups into scale-ups
Britain has one of the most conducive environments for starting a business – but we’re not brilliant at turning those great early-stage businesses into world-leaders. Bringing together research expertise, expansion capital and well-targeted government and private sector advice could allow us to build the international job-creators of the future.
- Driving regional growth
London and the South East’s success should be celebrated, but it’s important that we set the conditions for economic growth in the rest of the country too. Learning from success – like that of graphene research in Manchester, and cyber-security in the south west – will be crucial to ensuring the whole of the UK is able to create jobs and deliver wealth.
- Expanding our global horizons
Brexit offers us an opportunity to reset our relationship not just with the European Union but with the rest of the world. Our exporting performance is still sub-par compared to our competitors, but future trading pacts and a more active government effort could see the UK once again a thriving global player.
And of course…
- Getting early progress on a positive Brexit deal
The negotiations over the next two years – and maybe beyond – won’t be easy, but the new Government must set to work and make clear signs of progress early on. A deal ensuring the rights of EU citizens already in the UK would do a lot to persuade business leaders that the Government is interested in an open, rather than closed, future for the UK.
Interested in finding out more?
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