So, BAB members will be watching closely as the policy positions adopted by the two new governments become clearer.  And it looks like the two countries will have very different approaches to achieving the same professed aim of increased growth rates and prosperity.  In the UK, a doubling down on the social democrat consensus of the last few decades has seen a huge tax and debt raising budget designed to support public services alongside a new interventionist industrial strategy. Disappointingly, the majority of the new tax burden has fallen on businesses. In the USA, we expect the industrial policy of the Biden administration to be replaced with business-friendly tax, trade and regulatory policies to encourage US based investment.  Everyone will have their own views and preferences of course, and we know for certain that government is harder than opposition, but there is no question that the approaches are likely to be quite different. 

To focus specifically on the US-UK trade and investment relationship, BAB is convening a special one-day policy conference in London on Feb 25th.  Kindly hosted by Bank of America, this event will examine the policy approaches being taken by both countries to encourage investment and trade.  Sec. of State for Business, Jonathan Reynolds, will be speaking along with other government representatives and business leaders to be announced.  We think there is a real opportunity to re-commit to the ambitious ideas in the Atlantic Declaration and a good chance to cement the huge transatlantic trade and investment relationship in a new, modern trade agreement.  BAB members interested in attending can register by following this link and I urge you to come along if you can.  

Whether the newly announced nominee to be the US Ambassador to the Court of St. James’s, Warren Stephens, will be in London in time to attend this important conference will depend on the speed of the Senate approval process.  Either way we send him our congratulations and our best wishes for a speedy confirmation.  Our relationship with the Ambassador and the team at the Embassy in London is crucial and I would also like to publicly thank Ambassador Jane Hartley for her generous support and partnership over the last several years.  She has been a consistent advocate for our mission to protect and enhance the trade and investment relationship between the US and the UK and for what she has called the essential relationship. 

Reading about the newly nominated Ambassador, I see that he is a committed Tottenham fan, as am I…and it isn’t easy.  Given the Prime Minister’s life-long support for the other team in north London this should make for some lively discussions. 

We are coming towards the end of our programming for the year with our Holiday Lunch in New York last Friday and our reception in London on Dec 11th. It was great to see so many of our members at these two social gatherings and many thanks to Matt Palmer, the Deputy Chief of Mission at the US Embassy in London for hosting us once again this year. 

As you will see when we publish our Annual Report in January it has been a busy and positive year for BAB and I hope you have found your engagement with us helpful.  We will be back in January with our usual program of events in London, New York and Washington.  You can see some of the highlights of what is coming your way here and please keep an eye on the events section of our website.  There is going to be a lot to talk about! 

However you celebrate the coming season, all the team at BAB sends you our very best wishes and we look forward to an exciting and rewarding 2025.