Trade Tuesday: Party Conference is the chance to return trade policy to the top of the Manifesto Tree

With just two weeks until summer recess and the time when Parliament downs tools until it returns in the Autumn, the focus will soon turn to the upcoming Party Conferences. 

For businesses across every sector, this could be the last meaningful chance to engage with politicians and shape the political narrative about what priorities should be front and centre of each party's Manifesto. 

In recent weeks and months, it seems the priorities have become fewer, narrower and more insular. The Prime Minister looks to be building his re-election campaign around hitting the five key pledges that we’ve all grown tired of hearing by the end of the next parliament, since the target of this year now looks to be out of the question. Sunak’s aims, however, look wide-ranging compared to some of the election priorities of Conservative pressure groups. This week the New Conservatives issued a 12-point solely focused on cutting net migration before the next election.

Meanwhile, not a day seems to go by without Labour dropping – or delaying – a policy pledge. The party has argued over recent months that the Conservatives have run out of ideas, but in recent weeks the party has axed the £28bn green jobs fund and cancelled plans to scrap tuition fees, while plans to raise taxes for the top five per cent of earners have also been scrapped.  

What’s more concerning from a business perspective is that the focus on the benefits of Brexit, primarily promoting global Britain through free-trade deals that the former Prime Minister Boris Johnson championed, has fallen by the wayside. 

As a result, most surveys now suggest businesses are at a loss about how to grow their businesses both at home and abroad. According to BDO, the business advisory and accountancy firm, nine out of ten businesses are halting growth plans because of problems accessing capital, forcing almost a quarter to scale back expansion or make redundancies. Improving cash flow, generating new sources of revenue or raising new financing from existing funding sources are the top priorities for companies that continue to receive very little support or guidance from government. 

This uncertainty seems to work both ways, with Foreign Direct Investment (FDI) projects in the UK down 4.6% since 2021. Overall, according to EY, the UK’s share of the European inward investment market has fallen to 15.6% from 16.9% since 2021. 

Therefore, it is on businesses – especially those with a focus on international trade or global supply chains - to engage at Conference and ensure politicians understand that a clear, comprehensive trade policy is a must-have for each party’s Manifesto if they are to receive the backing and votes of UK businesses at the next election. 

This year, the SEC Newgate Advocacy team have produced the Road to Party Conference guide which details how businesses can best engage at the different conferences. The brochure details which events to engage with, target Ministers and Shadow Ministers to meet, alongside other top tips to make the most influence at the conference.

Party Conference is the last chance to ensure trade policy returns to the top of the Manifesto tree. 

Our Trade team can be your one stop guide and support during Party Conference season. To find out more, visit: https://www.secnewgate.co.uk/sites/default/files/2023-06/Road%20To%20Party%20Conference%20DIGITAL.pdf