A group of prominent UK business leaders has accused successive governments of prioritising short-term electoral wins over the tough decisions needed for sustained economic growth. The group that this short-termism is leaving future generations with a weaker economy and fewer opportunities.
In a letter published in The Times, chairs from major companies, including NatWest, Heathrow, Barratt Redrow, SSE, and Legal & General, announced that they have now formed the 2030 Prosperity Alliance to tackle this short-termism.
The new group argues that politicians are trapped in cycles of poor policy choices designed to appease voters rather than build long-term prosperity. Rick Haythornthwaite, chair of NatWest, Philip Jansen, chair of Heathrow, Caroline Silver, chair of Barratt Redrow, Sir John Manzoni, chair of SSE, and Scott Wheway, chair designate of Legal & General, are among the signatories.
“The difficult trade-offs needed to strengthen the UK economy must be set out clearly and command broad support – something our politics has historically lacked,” the group stated in the letter.
“Future generations will inherit the consequences of our short-termism. They are optimistic and deserve better.”
“Our analysis seeks to inform policymakers and test competing solutions with businesses and the public,” the group said in the letter.
“We are an apolitical campaign focused on harnessing Britain’s competitive advantages to provide a decade of rising prosperity and close the “inaction gap” between what the country needs and what politics alone can do.”
The alliance said that it aims to inform policymakers and test potential solutions with both businesses and the public, highlighting Britain’s competitive advantages to deliver a decade of rising prosperity.
This criticism comes amid ongoing concerns about the UK’s sluggish economic performance. Recent data has shown subdued growth, with factors like construction downturns, stalled services, and business hesitation linked to policy uncertainty contributing to stagnation.
Broader commentary from business figures has echoed themes of political short-termism harming competitiveness, including in taxation, regulation, and investment environments.
The 2030 Prosperity Alliance’s push signals business is increasingly willing to step into the policy void, advocating for bolder, cross-party approaches to trade-offs that politicians have shied away from in pursuit of electoral popularity.
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