Trust and reputation outcomes and activity

An update on our recent trust and reputation work

Significantly increased political engagement with the four main parties ahead of a likely general election in 2024 – convening key ministers, MPs, advisers and peers with members to discuss critical industry issues. Our ‘General Election’ series of events, in partnership with Aquis Exchange, have provided useful forums to discuss the parties’ economic priorities, with members so far meeting with Sarah Olney MP, Liberal Democrat spokesperson for Treasury and Business and Industrial Strategy and Greg Hands MP, Chairman of the Conservative Party.

Deepened engagement with ministers and officials across key departments, including convening members with the Chancellor for an Extraordinary Leadership Council and productive roundtable at 11 Downing Street. We regularly meet with the EST bilaterally and through our major events, meetings and conferences – he also has a standing invite to our Leadership Council meetings. We’ve been actively engaged with key ministers and officials across HM Treasury (HMT), the Department for Business and Trade (DBT) and the Foreign,
Commonwealth & Development Office (FCDO) to progress our programme of work, and continued to build relationships with prominent SNP politicians in Westminster and the First Minister, Humza Yousaf MSP.

Engaged with and fed into the Labour Party’s policy development, responding to policy reviews on the ‘everyday economy’, international trade and sustainability as well as their review of business taxation. We’ve held several roundtables with the opposition, including one with Shadow Chancellor, Rachel Reeves
MP, Shadow Business Secretary, Jonathan Reynolds MP, and Shadow Work and Pensions Secretary, Jonathan Ashworth MP to discuss unlocking investment to drive growth and pension savings. We have built strong relationships with key members of Labour’s shadow cabinet, the Shadow EST and their teams, offering briefings on key industry issues and priorities.

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Successfully pressed government to broaden its approach to business engagement beyond the ‘B5’ and are joining sectoral briefings on relevant issues to ensure members’ perspectives are shared. Our Board Chair and CEO also discussed the industry’s role in growing the economy with government ministers and business leaders at the Prime Minister’s Business Connect Conference.

Delivered a successful programme of events at the major Party Conferences, including at the Conservative, SNP and Labour Conferences. At the Labour Party Conference, we co-sponsored the New Statesman Drinks Reception and hosted a fringe event with the Shadow EST, Tulip Siddiq MP, a member of the Treasury Select Committee, Rushanara Ali MP and others focused on the industry’s enabling role in driving growth. We held a similar fringe event with Theresa Villers MP, economist Gerard Lyons and others at the Conservative Party Conference, and also co-sponsored the 1922 Committee Drinks Reception, which saw our CEO share a stage with the Prime Minister. Alongside the City of London Corporation, we hosted a fringe event at the SNP Conference with Scottish industry on sustainable finance, including an address from Cabinet Secretary for Net Zero, Energy and Transport, Michael Matheson MSP. All events offered excellent opportunities to engage with key political stakeholders and senior representatives from across the industry.

Brought together around 230 senior members, policymakers, industry stakeholders and media for our 2023 Annual Dinner, in partnership with Shearman & Sterling. Guests heard speeches from EST, Andrew Griffith MP, Shadow Business Secretary, Jonathan Reynolds MP and our Board Chair, Anne Richards DBE. Feedback from guests was very positive and the speeches generated significant media coverage.

Launched key economic research, including the annual ‘Key facts about the UK as an international financial centre’ and ‘Key facts about UK-based financial and related professional services’ reports. Both continue to be a great resource of facts and data on the industry generating widespread media coverage and producing valuable insights used across the industry and reflected back by policymakers, including those such as ‘nearly 2.5 million people in the UK work in financial and related professional services, with two-thirds based outside London’ – a fact used by the Chancellor in his most recent Mansion House speech.