Painting the City red – The implications of a Labour government for financial services

The UK is in a period of major political uncertainty. We will imminently have a new Conservative Prime Minister, who will have only the narrowest Parliamentary majority; we are unsure whether we will leave the EU with or without a deal on 31st October, or see a further extension of the deadline; and we do not know whether there will be an early General Election, or if this Parliament will go for a full term to 2022.

If an early election does come along, the current polling points to a highly unpredictable outcome, with four parties all hovering around a similar level of 20-25% support. Labour presently holds a narrow lead, and we know from past experience that the party is capable of growing their support during the campaign – as Jeremy Corbyn famously did in 2017.

For this reason, the financial services sector should take seriously the prospect that the next General Election will return a Labour Government – or perhaps a Labour-led coalition. The party has a policy programme that could have a major impact on the sector and is serious about implementing this programme.

This paper is intended to provide firms in the financial services industry with insights into the key themes that underpin Labour’s agenda for financial services and some of the specific policies the party would pursue, ranging from sustainable finance and an investment-led economy, to new ownership structures and more democratised boardrooms…

Click here to read Cicero Group’s overview on what a Labour government would mean for the financial services sector

Get in Touch

Tom Frackowiak

Managing Director - UK Public Affairs

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