The marathon of manifesto launches that started with Plaid Cymru in March and ended with the DUP on Tuesday – and the back-to-back media coverage that has accompanied each one – is yet another example of how the UK political scene is more disparate than ever. It is for this reason that Bellenden has produced, The Balance of Power: The Impact of Smaller Parties to assess what this will mean for business.
The arrival of smaller parties previously seen as on the fringe of politics into the mainstream will mean potential new risks for organisations as we enter a period of political upheaval, with the very real possibility of no overall majority on 8 May.
Bets are off when it comes to guessing who will form the next Government, but knowing what all the possibilities mean for your organisation and how to navigate this uncertainty is paramount.
Those parties with a focus in just one part of the UK such as – the SNP, DUP and Plaid Cymru – may never have come across many businesses’ radars in any meaningful way. Companies may think that these parties will only affect their operations in their regions of interest. This however, is no longer the case. Their potential ability to influence the broader political and policy agenda in the next Parliament will be greater than ever before. From the UK’s nuclear capabilities to where HS2 begins, these parties will seek to secure their own interests in the policy of the next Government and have a significant influence on the operating environment of businesses across the UK.
UKIP and the Greens’ influence on UK policy may be clearer and more direct, despite the fact that neither stand to gain more than a handful of votes. Even outside of a formal coalition, Labour and the Conservatives will desperately be trying to stem the flow of voters leaving to join these smaller parties by paying lip-service to their policies. Whether that means an EU referendum and tighter border controls promised by the Tories to appease the group floating over to UKIP; or the part re-nationalisation of rail by Labour, as a nod to the left of the party which is tempted by the Greens – these small parties will be agenda setters, wherever they are sitting.
With greater political diversification also come new avenues to drive change. Whilst there is undoubtedly more to keep track of, those businesses who take the time to grasp the issues will find they have a broader range of options for engagement – giving them a better chance of influencing key stakeholders and decision makers.
The structure of the new Government could well be something unprecedented for the UK – whether as a minority government, confidence and supply arrangement, or a formal coalition or something completely different, once fringe parties may become ever more important and take a real stake in the policy agenda.
These influential relationships mean whatever sector you are in, knowing what makes the small parties tick will help you get your message heard come the next Parliament.
Read our full Small Parties Report here.