The following article is based on a speech given by Greig Baker in Westminster on 16th November.
Politics might look like a wild rollercoaster at the moment, but for many businesses it can actually be predictable, practical, and even profitable.
At the broadest national level, fewer people are making more of the important decisions in Whitehall, which means political coordination is easier (and easier to predict) as long as capacity issues are addressed. Government focus is, inevitably, on Brexit – the strategy for which is closely aligned with the Industrial Strategy.
Industrial policy will be designed in part to help those who are ‘just managing’, but also to encourage foreign investment in the UK and do everything within EU state aid rules to keep existing companies here before Brexit actually happens. The criteria of geography, population and risk will help determine individual policy decisions.
So-called “mid-range” political issues like the National Living Wage, the Apprenticeship Levy and Social Value Procurement will also affect businesses directly – and to varying degrees by sector and location. The new National Cyber Security Strategy has big implications for business, too and has been discussed in more detail elsewhere on this blog.
Together with political relationships at the local level (affecting things like planning and contract decisions), these factors demonstrate how politics and business are intertwined. But if you can see what’s coming round the corner, the rollercoaster of politics can be a lot less scary.