Maintaining and enhancing competitiveness

Successfully lobbied Government through the IRSG to propose an international competitiveness and growth objective for the regulators. Following its inclusion in the Financial Services and Markets Bill we will continue to press for its delivery. We also provided a platform for the Labour Party to support this clause in the Bill, in principle, at our Annual Conference in June.

Secured greater parliamentary scrutiny of financial services regulation. When the Treasury Select Committee announced their intention to create a sub-committee focused on scrutinising financial services regulatory proposals and approach. This was a key outcome from our campaign led through the IRSG to promote the need for additional accountability in the regulatory framework.

Strong signals that our recommendation to reform the UK’s short-term business mobility system will be adopted. We first partnered with HM Treasury (HMT) to gather evidence from members about the frictions businesses face on mobility, and then shared the evidence with targeted MPs and officials in the Home Office, DIT, BEIS, FCDO, DCMS and MoJ. Officials are now conducting a whole-of-government policy review of short-term business mobility.

Co-led work on access to finance for the Life Sciences Scale-Up Taskforce and proposed a UK Scale-Up Partnership for Life Sciences to the Business Secretary. Working closely with the UK Bio Industry Association (BIA), Legal & General Group and PwC, the proposal aims to facilitate the allocation of institutional investor capital into venture capital and growth funds focusing on the life sciences and biotechnology sectors.

Return to: 'Driving growth and competitiveness through change: Annual report and accounts 2021-22'