The King’s Speech on Wednesday set out the Government’s response to the volatile economic and geopolitical environment impacting businesses and consumers, defined by the cost of living, slow growth, and concerns about security and economic resilience.
The speech signalled some strong intent, containing a slate of proposed new legislation. However, it’s what happens next that counts.
Businesses will judge the success of the current political cycle by whether it creates easier operating conditions, greater innovation, and fewer barriers to doing business. And for the public, it will come down to achieving growth alongside a better service experience overall: less delay and confusion, more accountability and confidence across businesses and public services, whilst creating a sense of greater inclusion, fairness and speed.
Delivering this depends not only on the substance of the programme, but also on having the stability, clarity and support needed to carry it through effectively. In the Institute’s blueprint for a Service Nation, our third pillar is about how service drives a fairer society. We have for many years been making the case for how a focused approach to the service agenda can help us to grow in a way that also supports employees, customers and businesses and the UK’s position on the world stage.
The current political volatility and speculation over Sir Keir Starmer’s position demonstrate the impact that sustained uncertainty has on both business and consumer confidence.
Growth must be felt in everyday service
First and foremost, the Government must help businesses tackle the growth challenge. While there was some welcome news this week, there is much work to be done.
This is an opportunity to make it easier for firms to invest, reduce unnecessary friction, and show how each bill improves the day-to-day experience of citizens, customers and communities.
In particular, I welcome the move to address late payments, which are estimated to cost the economy £11bn a year and lead to the closure of 38 businesses a day. Cash flow is a service issue as much as a financial one, because poor payment practices weaken supply chains and make it harder for smaller providers to maintain high standards.
And we eagerly await the detail on the promised Enhancing Financial Services Bill. The ambition to modernise consumer protections while minimising the administrative burden on businesses is the right one, as long as it retains a clear focus on customer outcomes.
Hopefully, it will build on the benefits we’ve seen through the Consumer Duty Regulation, which has helped focus boards in the sector on the end-to-end and outcome-based results. – As we have seen in successive recent UKCSI results, this has led to a sustained increase in customer satisfaction within financial services.
There is also potential for Digital ID to simplify and enhance the public service experience for many. But digital access should be inclusive: better online services should free up human support for those who need it, not create a new barrier for vulnerable, digitally excluded customers or those who simply prefer more traditional channels.
Reducing organised crime, too, by creating a broadly FBI-equivalent National Police Service, should help address some of the worst excesses of the crimewave many of our members have been facing. It may also go some way towards supporting the aims of our Service with Respect and uniting civic society in creating a better environment and improving confidence to act against unacceptable behaviour.
The reset test: turn vision into proof
A new legislative agenda presents an opportunity for a political reset, with or without a new leader, where the priority needs to be to address the level of polarisation and get an agenda that is more long-term and that we can all get behind to deliver meaningful and positive change to people and business in every corner of the UK.
To deliver, we need clarity on the desired outcomes and the steps required to get there. Too many good ideas fail because the vision and announcement are polished, but preparation and planning are insufficient, and implementation is poor.
Regular readers will know I believe our services-led economy can drive positive change for the country. Service leaders should use this moment to review their own mission clarity, strengthen supply chains and cyber resilience, and invest in the right combination of people and technology to deliver on the promise to customers.
Now is the moment to move from intent to action – and for everyone to come together for the greater good of the country. I have no doubt that our Service Nation has a great future ahead of it. How quickly we get there will depend on the quality of leadership we see in the months ahead – and a willingness to collaborate, make difficult choices, follow through, and measure progress honestly rather than rhetorically.
For our part, we’ll continue to convene leaders, share the evidence from our research, and champion the practical steps that turn ambition into improvement. As ever, we aim to be a calm, consistent voice, whatever is going on in the external world.
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