It’s time to get down to Business: REC at the 2024 Labour Party Conference

The atmosphere in Liverpool at the Labour Party Conference was a blend of excitement and apprehension. Newly elected Labour MPs bustled between fringe hustings and policy discussions, eager to make their mark. Yet, amid a 'freebie' scandal and mounting pressure from businesses over the party's perceived pessimism towards Britain’s economy, all eyes were on Labour to present an optimistic and pragmatic vision now that they are in government. Sir Keir Starmer sought to address these concerns, using his keynote speech to assure the country that "light is at the end of the tunnel" and that navigating the UK towards 'national renewal' will require tough but necessary decisions for long-term prosperity. 

One focal point of the conference was Chancellor Rachel Reeves' address, in which she aimed to dispel any doubts, declaring that her "optimism for Britain is brighter than ever." She laid out her vision for a Treasury with a renewed focus on the benefits of investment, signalling an end to its previous, more cautious approach. This shift is particularly welcome as it aligns with our longstanding advocacy for government investment in critical public infrastructure, such as transport and childcare. Strategic investment in these areas is crucial to driving economic growth and creating a more resilient labour market. Next month, the Business and Trade Secretary, Jonathan Reynolds, will reveal Labour’s much-anticipated Industrial Strategy – a centrepiece of its economic growth agenda. At the REC, we have long campaigned for the implementation of a comprehensive Industrial Strategy, and we are keenly awaiting further details. 

The REC used the Labour Conference primarily as an opportunity to influence Labour politicians around their plan to Make Work Pay, alongside other industry and political stakeholders. In addition to this, the REC has been engaging in a series of fringe events with MPs, Ministers, and industry experts. Topics ranged from creating a sustainable health and social care workforce, adapting the Growth and Skills Levy in the logistics sector, and stimulating economic growth; to how the government can strengthen its relationship with industry and make devolution work effectively. In a fringe event around the sustainability of the NHS workforce, we highlighted our Voice of the Worker campaign, stressing the need for flexibility when considering workforce planning within the NHS and social care systems.  

Our CEO, Neil Carberry, in collaboration with the Institute for Government (IfG), led a roundtable with Immigration Minister Seema Malhotra MP and a few of our members. The discussion focused on aligning the immigration system with labour market demands, with Neil emphasising that a well-functioning immigration system must be integrated into Labour’s wider mission for economic growth – and so should be considered hand in hand alongside skills and the Industrial Strategy. 

Labour's rise to power has captured the attention of many, but the real challenge lies in delivering on its ambitious agenda. The coming months will reveal whether they can meet these expectations. At the REC, we are committed to ensuring that our members are at the forefront of this change, working closely with government and industry to shape the future.