17 July 2024
Responding to the King鈥檚 speech, the 桃子视频 (IFoA) has issued a comment on the announcement of a draft Audit Reform and Corporate Governance Bill and a briefing summarising the key legislative proposals and policy intentions relevant to the work of actuaries.
Ahead of the King鈥檚 Speech at the State Opening of UK Parliament on 17 July, the IFoA called on the new Government to set out a bold and ambitious legislative agenda to tackle the most-pressing long-term issues facing the UK.
Actuaries have been highlighting the impact of short-term thinking across several areas, from the prolonged strain on the adult social care system, and underinvestment in key infrastructure projects, to meeting the demands of an ageing population and protecting our planet for generations to come. Without a strategic re-focusing on the big picture challenges that society faces, we risk sleepwalking into further danger.
Our policy prospectus, 鈥�Beyond the Next Parliament鈥�, demonstrates how an alternative approach to policymaking can make the Government鈥檚 first King鈥檚 Speech a roadmap for the long-term, whilst encouraging the economic growth that is needed to deliver widespread reform.
IFoA President Kalpana Shah said:
鈥淒uring the election campaign, the Prime Minister advocated an end to 鈥榮ticking-plaster politics鈥� and an ambition to usher in a 鈥榙ecade of national renewal鈥�. As experts in risk management, we believe this can only be done by adopting a long-term approach to policymaking.
鈥淭he start of a new parliamentary session provides the perfect opportunity to reset the policy agenda, with a King鈥檚 Speech that sets the tone for the long-term. The IFoA looks forward to engaging with the new Government and across the political spectrum, as we highlight the ways in which our sector鈥檚 skills, knowledge, and expertise can help to achieve this goal.鈥�
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