Viewpoints

3 weeks ago

Shorting the City: The Tories’ Brexit deal fails the financial services industry

By Pat McFadden There was a revealing moment in the House of Commons debate on the Government’s Brexit deal.  Labour MP Peter Kyle asked the Prime Minister about the absence of coverage for financial services in the deal.  The Prime Minister ducked the question but said he was glad Labour was “backing the bankers”. The Prime Minister’s response summed up how the financial services sector has been viewed by much…

3 months ago

Look north, Labour politicians urge the City

Sheffield is packed with people with PhDs. The Tees Valley is home to a skilled workforce of which Britain can be proud. The City can do more to invest in talent and support entrepreneurialism in these regions. Those were some key takeaways from a Labour in the City panel discussion focusing on how the financial services industry can contribute towards a “levelling up” of Britain’s dangerously geographically lop-sided economy. Jessie…

3 months ago

How the City can be a good neighbour

Your business may be global – but think locally about hiring, and mentoring, young people. That was the message to City employers from Rushanara Ali, the Labour MP for Bethnal Green & Bow, during a Q&A session with Labour in the City members. Rushanara’s constituency neighbours the Square Mile – it includes Spitalfields, Whitechapel and a chunk of Bishopsgate, together with East End neighbourhoods such as Stepney and Bow. She…

4 months ago

Listening to the red wall

Labour in the City were delighted to host a virtual Q&A between Deborah Mattinson, founding partner of Britain Thinks and former political strategist to Gordon Brown, and 40 of our members. Deborah spoke about her new book ‘Beyond the Red Wall’ which analyses the underlying causes resulting in the 2019 election results and the totemic shift in party loyalties. For those who couldn’t make it in person here are some of…

5 months ago

Why random drug testing at work is a bad policy

How would you feel about your employer ushering you into a room and requiring you to pee in a bottle? That’s the scenario favoured by Shaun Bailey, the Conservative candidate for Mayor of London, who wants to introduce random drug testing in the office. Bailey wants all businesses with more than 250 employees to sign up to a testing charter, routinely checking for signs of illegal drugs. He would then…

5 months ago

Sajid Javid: a man in a hurry

So Sajid Javid MP, ex-Chancellor of the Exchequer, has a new job advising JP Morgan. For someone whose standing as a politician went up earlier this year after resigning – and someone who will go down in history as the UK’s first Chancellor of Asian heritage – Mr Javid seems unconcerned about how this move might diminish his reputation and that of his colleagues. It is reasonable for voters to…

6 months ago

Not saying anything racist isn’t enough

Is it time to anonymise CVs to stamp out unconscious bias against BAME people in the financial services industry? Could banks and financial institutions bring in a “Rooney rule”, as in American football, whereby people of colour must be on the interview list for senior jobs? Should  responsibility be shouldered by white “allies” to promote ethnic diversity rather than leaving the battle to be fought by BAME colleagues? Those were…

8 months ago

Return of the Mac

Labour in the City were delighted to host a virtual Q&A between the newly appointed Shadow City Minister Pat McFadden MP and more than 70 of our members.  Pat provided an insider view on how the Labour Party is changing under Keir Starmer’s leadership, the type of relationship he wants with the City and Labour’s role championing wealth creation, as well as answering questions on a range of topics. For…

10 months ago

Starmer must beware of praise from our enemies

Thoughts on the election of Keir Starmer as Labour Leader from our COO There’s been a sigh of relief from many moderate Labour Party members at Keir Starmer’s election as leader. Disconcertingly, though, that relief has also been expressed across the political aisle in a cosy mood of establishment collaboration. George Osborne has taken to the airwaves to welcome a return to sensible opposition. Sajid Javid is looking forward to…

1 year ago

Labour’s future with business and the city

Thoughts from Labour in the City Chair, Sophia Morrell, following the General Election.   We are just three weeks out from Labour’s most disastrous election result since 1935 and there have already been many thousands of words offered on what went wrong. Where I’d like to offer a perspective is on Labour’s approach to business relations and wider economic policy. Renewing both of these in tandem will be critical to…

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