IoD Week in Policy 7 - 11 August 2023

In parliament’s absence, we have all become reporters here in the Policy Team.

It’s been a busy week of commentating, and on some of our favourite sports: the geopolitical environment, survey data analysis, board reform, the economic arena. Not only that but some of our own punditry caught the attention of the media…

Reporting or re-porting?

Our research shows businesses are sensing geopolitical shaped clouds on the horizon, particularly around China. US-China relations have been chilly for a while, the pandemic exposed vulnerabilities in global supply chains, and then the invasion of Ukraine revealed the consequence of being over-reliant on countries deemed to be high-risk to the UK. As a result, many businesses are reorganising their supply chains away from China to de-risk global operations in the long-term. This was picked up by The Telegraph, BBC News, and CityA.M.

Policy Voice Data Hub

Do you wonder what we do with your data after our monthly Policy Voice survey? In our new Policy Voice Data Hub, members can view monthly reports on the detail of our surveys and how we have used them. Whether it’s in response to a consultation or a media request, IoD member data has influence! And just in time, because our latest survey went live this morning. IoD members will find a personal link in your inboxes.

All aboard

The challenges we face as directors – from the pandemic to climate change to artificial intelligence and digital transformation – are immense. It is critical that global leaders around board tables collaborate to advance our understanding of how better boardroom performance can drive better organisational performance and create better outcomes for our stakeholders. The GNDI Future of Board Governance Report is a must-read for all directors looking to explore these issues further.

Not so super-deduction

GDP grew by 0.5% in the month of June. It is encouraging that there are signs economic growth is starting to pick up. However, there is still a way to go since data suggests a decline in investment following the expiration of the government’s super-deduction allowance. Read our full analysis here, City AM’s coverage here, and listen to our feature on Times Radio here (2.08 time stamp).

A balancing act

Monthly ONS trade data shows the total trade deficit in goods and services narrowed for the third month in a row in June 2023. While the UK’s trade balance still remained in negative territory, the change is because firms imported a little bit less and exported a little bit more. Our own export data shows businesses are anticipating growth over the next year. Read our full analysis here.

Next week, watch out for…

Tuesday 15 August

  • ONS will release monthly labour market statistics

Wednesday 16 August

  • ONS will publish monthly inflation statistics for July 2023

Better directors for a better world

The IoD supports directors and business leaders across the UK and beyond to learn, network and build successful, responsible businesses.

Finding stability in a changing economy

Browse valuable UK economy resources from the IoD.
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