Welcome to Attis Mission Roundtable
Just before the election Attis held a roundtable, bringing together industry leaders and Attis expert partners. Kindly hosted by Soho Estates, we explored the implications of a Labour government on places and communities and how to foster collaboration between businesses and the Government.
Attis Partners and Labour policy experts Pete Bowyer and Paul Nicholson from Red Rose Associates provided insider insights into the political priorities, plans and processes of the Labour government.
The Implication of a Labour Majority
With the election resulting in a Labour landslide, the Government now has the opportunity to focus on long-term governance and campaign for a second term. This shift allows greater stability and certainty, enabling more robust and sustained policy implementation.
Growth is the Only Way Forward
Growth is the cornerstone of Labour's agenda. Here are three critical aspects of their approach:
1. Rebuilding Business Relationships
Labour is committed to rebuilding its reputation within the business community. Through consultations and engagement, the Government is keen to explore and design detailed policies, under the 5 key missions, which lay out opportunities for industries to co-design plans for delivering growth and the future of the country. This renewed relationship is vital for Labour's overarching growth ambitions.
Key elements include fiscal conservatism, evidence-based policymaking with strengthened OBR, pro-business and pro-innovation mindsets, limited new tax raising measures, and promised political stability and certainty.
2. Revitalising High Streets
Labour's plan for rejuvenating high streets, introduced in April before the election campaign, forms a central part of their growth mission. While it critiques the decline under previous governance and outlines a five-point rejuvenation plan, details are still expected.
The five key points included in the party’s plan are:
• Replace business rates
• Stamp out late payments to SMEs
• Crack down on anti-social behaviour
• Give communities a new ‘right to buy’ beloved local assets like pubs
• Roll out 350 banking hubs
3. Business Tax Policy
Labour's 'Business Partnership for Growth' paper provides a clear framework for their business tax policies including no rise in corporation tax and a commitment to business rate reform. It outlines a fixed timetable for fiscal events, including an Autumn Budget and a Spring Statement, aimed at providing regular updates and fiscal stability.
The key pledges include no rise in corporation tax over the Parliament term, with a potential cut if UK competitiveness is threatened. The party commits to replacing business rates with a new property tax system and will publish a 'Roadmap for Business Taxation' within six months of the election, following consultations. They promise to maintain full expenses, R&D tax credits, and annual investment and capital allowances.
There is no mention of restoring tax-free shopping, despite evidence of its negative impact compared to other European destinations. Reeves is wary of change if it includes a Treasury price tag but would be open to the idea should this be removed and positioned as a growth measure.
4. Taking Back Our Streets
The other mission relevant to high streets is “taking back our streets,” which focuses on addressing anti-social behaviour, shoplifting, and violence against shopworkers. The party and the Government have collaborated extensively with the moderate shopworkers' union, USDAW, and businesses in developing these plans.
Navigating Opportunities and Challenges
While business leaders are eager for more detailed plans from Labour, being at the early stage of the new government presents ample opportunities for industries to collaborate and shape future policies.
This roundtable has laid the foundation for future collaborations and highlighted the pivotal role of businesses in shaping a prosperous future under a Labour government.
But how? Attis Can Help: A Mission-Led Approach to Driving Vitality and Sustainability
Three years ago, we founded Attis with a mission-driven approach to ensuring the vitality, viability, and sustainability of places. Today, with a mission-driven government in place, our approach aligns perfectly with the current political climate.
Traditional issue-led approaches often fall short in addressing the complex, multifaceted nature of real-world challenges. At Attis, we view each project as a mission, not just a set of isolated issues. By assembling bespoke Mission Teams from our diverse pool of expert partners, we ensure comprehensive solutions tailored to the unique needs of each client.
Now is the time to embrace this collaborative, mission-led approach. By working together, we can unlock the full potential of our places and communities, driving forward growth and sustainability.
Get in touch at hello@attistowns.com to explore how we can support your journey towards vitality and success.
