The King's Speech: A Progressive Vision, But What About Fashion?
The King's Speech delivered a comprehensive legislative agenda focused on economic stability, social justice, and national renewal. This speech set a clear path for the government’s mission to create a fairer, greener, and more prosperous United Kingdom. It resonated with the change Labour promised throughout their campaign. Yet, as we at Fashion Roundtable digest the details, we are left asking: what about fashion and the creative industry? Our Policy Researcher, Michelle Kazi, gives her take.
Economic Stability and Growth
The King's Speech introduced the Budget Responsibility Bill and the National Wealth Fund Bill to ensure fiscal prudence and boost investment across the UK. These measures aim to create a stable economic environment, which is crucial for the fashion industry's growth. By mobilising significant investments, these initiatives can foster a more predictable and supportive business climate, essential for fashion retailers and manufacturers to plan long-term investments in innovation and infrastructure.
However, the speech falls short in addressing the specific needs of the fashion sector, such as local procurement and investment in UK manufacturing. Without explicit measures to bolster fashion manufacturing, the sector may struggle to compete with international counterparts and fully realise the benefits of a robust local supply chain.
Social Justice and Employment Rights
The Employment Rights Bill promises significant improvements in working conditions, including banning zero-hour contracts and ensuring flexible working conditions. These measures directly benefit garment workers and retail staff, fostering a more inclusive and supportive work environment. Ensuring fair wages and job security can attract more talent to the industry, promoting a healthier and more equitable fashion sector.
Sustainability
The establishment of Great British Energy and support for sustainable aviation fuel production are significant steps towards a greener economy. By investing in clean energy and promoting green initiatives, these measures align with the fashion industry's push towards sustainability. This can help fashion brands reduce their carbon footprint and meet sustainability targets, enhancing the industry's reputation and appeal to environmentally conscious consumers.
Despite these positive steps, the King's Speech does not directly address the fashion sector's specific needs for sustainability. To truly advance sustainability in fashion, targeted policies are essential.
Support for Creative Industries
While the speech mentions harnessing artificial intelligence for growth, it lacks specific measures to support the creative industries, including fashion. Protecting creative intellectual property and ensuring inclusivity in the fashion sector are critical issues that need government attention. Robust IP regulations are pivotal for maintaining the UK's leadership in fashion.
Regenerating High Streets
The Planning and Infrastructure Bill aims to streamline planning processes, potentially benefiting retail by accelerating the development of commercial spaces. However, the speech does not specifically address the regeneration of high streets—a critical issue for fashion retailers facing declining foot traffic and increasing online competition. Effective regeneration strategies are needed to revitalise high streets and support local businesses.
The Importance of the Fashion Industry
Fashion is the UK's most economically significant creative sector, generating approximately £60 billion annually—nearly half of the total economic impact from the UK's creative industries. It supports 1.3 million jobs across the country, from the cultivation of raw materials to the bustling retail landscape. This industry is a vital contributor to regional economies, with Scotland alone seeing 2,000 more fashion businesses open between 2021 and 2023. Despite the challenges posed by COVID-19, the fashion industry remains resilient and continues to grow.
The fashion industry also plays a crucial role in sustainability and innovation. With the public increasingly concerned about climate change, fashion is adapting rapidly. From sustainable manufacturing practices to the rise of pre-loved clothing, the industry is making significant strides towards reducing its environmental impact. The government's support for these initiatives is essential for the continued success and sustainability of the fashion sector.
Recommendations
To enhance the government's progressive work, we recommend the following:
Support Local Manufacturing: Introduce measures to support the on-shoring of fashion manufacturing, including tax incentives for British-made goods and investment in UK manufacturing.
Sustainability Initiatives: Implement Extended Producer Responsibility (EPR) for fashion and textiles and support sustainable fashion exports.
Regenerate High Streets: Develop targeted strategies for high street regeneration, including Social Value Leases and amendments to the Companies Act to protect local businesses.
Protect Intellectual Property: Enforce robust IP regulations to safeguard creative designs and innovations.
Facilitate Trade and Talent Mobility: Ensure frictionless travel for fashion talent and reduce red tape for transporting goods between the UK and the EU.
Conclusion
The King's Speech outlines a broad and ambitious legislative agenda aimed at fostering economic stability, social justice, and environmental sustainability across the UK. While the proposed bills set a strong foundation, additional targeted policies are needed to fully support the fashion industry. By recognising and addressing these needs, we can ensure that the UK's fashion sector continues to thrive and contribute to a fairer, greener, and more prosperous United Kingdom. It is time for the government to embrace the broader goals outlined in the King's Speech and include the fashion industry in its vision for change.