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Quick reaction to Labour landslide

05 July 2024

THE GENERAL election threw up a few surprises, but a Labour victory was not one of them. What does it mean for the logistics industry?

A big question is whether long craved for stability will be provided?

Savills director of commercial research Mat Oakley, says: “With inflation returning to target levels and the outlook for GDP growth being for a steady recovery of the UK economy through the remainder of 2024 and into 2025, a stable and predictable political environment is the next component that investors and businesses are hoping to see restored.

“[Yet] the challenge ahead is no different to the one that has dogged the UK and other economies since Covid-19: how to invest in the country and get the debt burden down when the tax take is already high.”

UK Warehousing Association CEO Clare Bottle has a potential solution for more joined-up thinking from Government.

“We’re calling for a dedicated cross-departmental Logistics Minister who will champion the needs of our sector. Key issues include decarbonising the electricity network, reforming the planning system, modernising apprenticeships and promoting innovation in warehousing. At the moment, issues such as these are spread across eight separate government departments.”

Logistics UK echoed this sentiment. Its statement read: ‘Our sector underpins the whole economy. Our central ask is a cross-Whitehall Logistics Productivity Forum, led by a dedicated minister for logistics and supply chain.’