What's next for Britain?

As we start a new chapter for our country I know very many of us are relieved to be moving forward, irrespective of which side we took in the EU Referendum. Now the argument is settled, we can focus on building the future together. 

The reality is that Britain has a wonderful combination of strengths. We have a rich history and are innovative, we are global and local. We’re home to many world class businesses, in finance, technology, pharmaceuticals and excel in the creative industries, in music, literature, fashion, architecture, film-making, art and advertising. We have a wonderful cultural heritage, great educational establishments (including four of the top 10 universities in the world) and top-rated scientific research. But there’s no room for complacency in a disruptive world. We also face a number of known challenges with unknown answers (so far) – the very live terrorist threat, for example, pervasive mental health difficulties, and how artificial intelligence will impact future employment prospects. 

These challenges also include significant inequalities across our nation – regional, sectoral, and a growing gap between the ‘haves’ and the ‘have-nots’. Last week saw the release of the 20thannual Edelman Trust Barometer, a global poll of trust levels; its two decades of data give us a reference point for the latest numbers. There is a record ‘trust gap’ between the general public and those who are better off and only a quarter of the general population believe they will be better off in five years’ time. Most striking of all, we are ranked 27 out of 28 countries in terms of the level of trust in institutions (only the Russians say they trust their institutions less).  

The Prime Minister’s objective of ‘levelling up’ is absolutely key if we are going to realise our post-Brexit potential. It’s a clarion call that needs more detail, but also – fundamentally -  a new attitude on the part of business leaders, the mainstream media and those in other positions of authority and leadership. The system isn’t working for the majority – and that will hold us back from delivering our strong potential. Changes at the margins or just at the top won’t be enough – we need to reinvent our institutions, systems and ways of connecting with each other. 

There are exciting ‘green shoots’ that this is well understood at the highest levels of Government, with previously untouchable institutions like the BBC and the Civil Service now up for reform. This is essential to the delivery of greater prosperity for more people, whose confidence in capitalism has been undermined by inequality, time-poverty, low average wage growth and a sense that they are not listened to, that their views are dismissed. By listening to each other more, by connecting more, we can restore our sense of community, belonging and trust.

Business have a big part to play here. Already, just days after leaving EU, the self-interest of big corporates is being heard again. Instead of lobbying hard over the next 11 months of Brexit transition, business leaders should be showing they are open to lateral thinking about future terms of trade and are also focused on building the confidence of their employees. While big business isn’t trusted as a group, the Edelman data suggests that employees generally trust the company they work for, creating an opportunity for firms to build on that trust.  

To start with, business leaders can show they understand that there are broader issues at stake for our country. Trade negotiations with the EU may be very important for a specific business or sector, but it’s time to gain some broader perspective, to be adaptable and innovative. I was fortunate enough to hear Secretary of State Mike Pompeo in conversation with our own Foreign Secretary, Dominic Raab last week; Secretary Pompeo was very confident about the positive, productive relationship between the UK and US on ‘all the issues of the day including human rights as well as trade’. Importantly, the US Secretary of State emphasised our shared values, our belief in the sovereign will of the people, in democracy, as underpinning our ‘special relationship’ and making us ‘trusted partners’. Secretary Pompeo explained that this was why he was so concerned about the Huawei decision, contrasting our shared democratic principles and religious freedom with the fundamentally different values and objectives of the Chinese Communist Party. This point is rarely mentioned. Standing back from the immediate expediency, we can all see the inherent risk in partnering with a competing regime built on conflicting principles so the shared UK-US commitment to build our own 5G capability is welcome. 

To me, our underlying values and mindset are key. Last week was a fork in the road for this country. We have changed our path, so need to rethink our assumptions, our expectations, our goals. We may not be able to see every step ahead – in fact it’s good that we can’t, because that makes us open to the greater possibilities and encourages us to search them out. Just a few months ago, the spirit of fear was stalking our land. Now that the democratic vote has finally been respected (and process has been followed; the legal challenges have strengthened the legitimacy of the eventual outcome) we should move forwards imaginatively, thoughtfully and with bigger ambition. 

And so the establishment narrative of treating the people’s decision to leave the EU as a disaster or (at best) a damage limitation exercise needs to change quickly. Today we must challenge ourselves, adjust to the incredible pace of transformational change in the world and ensure that Britain is at the forefront of these changes, to the benefit of all its people. We have always punched above, not below, our weight on the world stage, playing our part in every international issue of substance, from trade to regulation, from security to medical research, from finance to culture. Project Hope is not Project Wishful Thinking! In my experience, in business and in life more generally, while self-belief is no guarantee of future success it’s a great place to start. It’s especially important now that we have more opportunity to self-determine our future.