On the eve of the 2024 UK General Election, we launched our General Election Manifesto and Policy Tracker, which summarised the policy commitments made by the Conservative and Labour parties and assessed their potential impact on businesses. Now that the Labour Party is in government with a commanding majority, attention turns to how those manifesto pledges are being translated into policy and legislation.
This Policy Implementation Tracker is designed to monitor and assess the progress the Labour government has made in delivering on its 2024 manifesto commitments. It highlights where pledges have been implemented, where progress is underway, and where commitments remain unfulfilled or have been deprioritised. In doing so, we aim to provide a clear and practical view of the evolving policy landscape and its implications for business.
The tracker covers public law, investigations, tax (including wealth management), and employment and pensions. It also includes a spotlight on industries.
Key highlights from this tracker include:
- Border Security Command Launched - A new Border Security Command has been established to combat illegal migration and smuggling gangs, backed by counter-terror powers and international cooperation.
- Immigration Reforms Underway - Key measures include stricter visa rules, with skilled worker visas now requiring higher qualifications, increased salary thresholds, and the closure of the care worker visa route to reduce reliance on overseas labour.
- Procurement Overhaul for SMEs - Simplified rules and a new National Procurement Policy Statement aim to give small businesses better access to government contracts.
- Consultancy Spending Scaled Back - Government consultancy spend halved, with stricter approval thresholds and a new centralised framework to save over GBP 1.2 billion by 2026.
- Whistleblower Protections Expanded - A new Office of the Whistleblower is being established, alongside financial incentives and broader legal protections for whistleblowers.
- Corporation Tax Stability Confirmed - Corporation tax capped at 25% for the duration of Parliament, with support for OECD Pillar One and Two reforms.
As with our previous tracker, we welcome your questions and would be pleased to discuss any aspect in more detail.
Baker McKenzie does not endorse any political party.