12 July 2024
Ahead of the King’s Speech at the State Opening of UK Parliament on 17 July, the Institute and Faculty of Actuaries (IFoA) is calling 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, ‘Beyond the Next Parliament’, demonstrates how an alternative approach to policymaking can make the Government’s first King’s Speech a roadmap for the long-term, whilst encouraging the economic growth that is needed to deliver widespread reform.
IFoA President Kalpana Shah said:
“During the election campaign, the Prime Minister advocated an end to ‘sticking-plaster politics’ and an ambition to usher in a ‘decade of national renewal’. As experts in risk management, we believe this can only be done by adopting a long-term approach to policymaking.
“The start of a new parliamentary session provides the perfect opportunity to reset the policy agenda, with a King’s 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’s skills, knowledge, and expertise can help to achieve this goal.”