ATTENTION ON ECONOMIC POLICY TRUMPS GEOPOLITICS IN UK ELECTION

But many not expecting major changes in policy

As the UK general election campaign crosses its halfway point, economic policy has trumped geopolitics and other issues for Airmic members, the Airmic Big Question survey this week found. 52% of respondents said their organisations are preparing for a change in UK economic policy, compared to 19% who said they are preparing for a change in UK foreign policy.

Nevertheless, 38% said it would be business as usual for them.

Julia Graham, CEO of Airmic, said: “While we have seen how geopolitics and the economy are intrinsically linked, the survey results suggest that the long-term trajectory of UK economic growth continues to be of great concern to our members and their organisations.”

Hoe-Yeong Loke, Head of Research, Airmic, said: “The high prevalence of members saying it will be business as usual reaffirms what observers say has been convergence of Conservative and Labour economic policies, especially since the mini-budget of September 2022. They don’t expect radical change.”

“Members and their businesses are more concerned about how a Labour government’s economic and fiscal policy will play out – given widespread expectations for the Labour party to win a landslide victory on 4 July – in the face of growing domestic populist pressures, as well as external events such as the outcome of the US presidential elections later this year.”

Housing regulations were singled out by members in the survey as being of concern too. Leigh-Anne Slade, Head of Media, Communications and Interest Groups, Airmic, said: “Rather than being merely a sectoral interest, some of our members are echoing the pundits as to how closely they are watching the debates on housing regulations, for their impact on the UK economy and on society at large.”

The ”year of elections” was one of the key themes at Airmic’s annual conference in Edinburgh earlier this month. BBC journalist Clive Myrie, who moderated the plenary panels at the conference, said in an interview with Airmic TV: “I think the influence of Nigel Farage will, in the eyes of some observers, make it a little more likely that the Labour victory could be beyond 50, 60, or 70 seats rather than perhaps 10 or 20 seats. [But] I don't think it's going to change what the polls are suggesting will be the result itself.”

If you would like to request an interview and or have any further questions, please let me know.

We will be sharing the results of the Airmic Big Question with the press weekly.

You can also find the results here.

Media contact: Leigh Anne Slade
Head of Media, Communications and Interest Groups, Airmic
Leigh-Anne.Slade@Airmic.com
07956 41 78 77