The Race for Number 10 – what does it mean for our industry?

I am pleased to see a confirmed date for when we will have a new Prime Minister to lead our country, and I hope there will be a focus on making Britain a place for people to do business, visit, work, and live.

I firmly believe that there should be a focus on rebuilding. The new Government must have an outward-looking approach rather than the existing inward-looking we have endured these past few years. 

Hopefully, the new Government will get this right under whomever it may be. They must rebuild the trust of the country through their achievements.

They could look to our industry for an example. Brought to its knees during Covid, meetings and events were rejuvenated through virtual and hybrid events when needed. And we’re now thriving with live events being so busy again. One example is the fantastic summer of sports events ahead.

The Commonwealth Games is kicking off in Birmingham next week, and how proud the Lionesses are making us by reaching the Semi-finals of the Women’s Euros – another fantastic tournament held on home turf. Both worldwide watched events are putting Britain on the map and showcasing some amazing stadiums across the country and how well we can deliver world-class events.

The future should look at building the economy however needed. This will provide solutions to most of the country’s challenges. Whether that will happen is a different question. The two potential leaders of the current party with power have incredibly different views on rebuilding.

Liz Truss is all for significant and immediate tax cuts, claiming they’re needed to avoid recession and jumpstart our economy – and that ‘economic orthodoxy’ of all governments over the past 20 years was wrong. Meanwhile, Rishi Sunak staunchly believes that tax cuts would be inflationary and that we must wait for them. 

No matter who wins, it will be a tough job. The industry will have little choice but to work with what we end up with to succeed. And let’s face it, that’s pretty much this industry’s story of the last few years!