Iain Wright, ICAEW’s Managing Director, Reputation and Influence, caught up with new MPs and ICAEW members Chris Coghlan and Charlotte Cane during his attendance at last week’s Liberal Democrat Party Conference in Brighton.

ICAEW attended the business day and fringe events as part of its engagement with all three main Westminster parties during this conference season, as the Institute endeavours to communicate its key messages in the run-up to the Budget in October. 

“It was great to be in Brighton for the launch of the Liberal Democrats’ business day,” says Wright. “It’s important for ICAEW to show its public interest by attending three political party conferences. The Liberal Democrats are in a really interesting place, having gained the largest number of third party seats since the era of Asquith and Lloyd George.”

The party expressed enthusiasm for the views of business, and is clearly considering those views as part of its approach to the next five years of Parliament.

The business day included a panel session on industrial strategy. Business and trade spokesperson Sarah Olney MP touched on the importance of accountants in the context of industrial strategy and remarked on business rates reform. Lord Fox, also on the panel, expressed concern around the potential for EU regulation to stifle innovation in AI.

ICAEW heard speeches from key party figures, watched a Q&A session on small business finance and attended an evening business reception with Leader of the Liberal Democrats Rt Hon Sir Ed Davey MP. 

The fringe events saw a jubilant party contending with the new questions and challenges arising from its historic electoral success. Among the discussions around the party’s performance at the July general election were warnings from party figures not to rest on their laurels. 

Other fringe panels looked at ways of addressing tensions between national concerns and the local issues that have been the party’s typical focus in recent years. 

Deputy Leader of the Liberal Democrats Daisy Cooper MP declared health and social care to be the party’s top priority. On another panel, ICAEW member Helen Morgan MP discussed the inextricable link between the cost of social care and the crisis in local government funding.

“Even though there is a large majority for the government, it is important to engage with all political parties, especially given the strength of the Liberal Democrats,” Wright says. “We’ve had a long relationship with the party, engaging with them on their manifesto-writing process for the general election.”

ICAEW remains committed to engaging with all major parties to encourage action on the recommendations in our Manifesto and Budget submission. In the coming weeks we will attend the Labour and Conservative party conferences to further amplify these messages. 

“We’ve just produced a Budget submission, including a business tax roadmap and making sure there is a fiscal strategy,” says Wright. “We’re talking to the Liberal Democrats and senior frontbench spokespeople on business rates, taxes, the general fiscal situation and what we need to ensure long term, sustainable growth.”