What the UK election means for fashion

In a tumultuous election year where more than two billion people around the world will go to the polls, the national vote in the UK this week was decidedly predictable.

The country's left-wing Labour Party is on course to win a landslide victory, handing the Conservatives a crushing defeat, with votes still being counted at the time of publication. The ouster of a party that had been in power for 14 years was virtually a foregone conclusion, with the final polls so striking that some senior party members were disappointed. has actually conceded defeat even before the elections took place.

But even though the British electorate voted overwhelmingly for change, the country's new leaders are unlikely to radically alter the landscape on key issues for the fashion industry.

Labour, for example, has indicated it has no intention of lifting a controversial ban on duty-free shopping for overseas visitors, which has made the UK a less attractive destination for big-spending tourists. Singapore-based superfast fashion giant Shein’s proposed London flotation is as likely to happen under the new government as it was under the old one.

Labour has promised to improve trade links with Europe, but a return to the pre-Brexit era of free movement of talent and easy market access is not on the agenda; new Prime Minister Keir Starmer has excluded The UK intends to rejoin the EU single market in its lifetime. Any concessions will likely be hard-won with Brussels, which has taken the position that the UK should not be able to cherry-pick which benefits of EU membership it wants to re-access.

For its part, the British Fashion Council has drawn up a list of five priorities for the new government. While some, such as the restoration of tax-free shopping for tourists, do not seem to be on the agenda, others could benefit from greater support.

Fashion was not mentioned in Labour's manifesto, but it has indicated it wants to support the creative industries by offering more apprenticeships and putting a focus on the arts in schools. Plans to reform corporation tax could also help struggling retailers, although the practicalities of the reform have yet to be worked out.

The party has yet to provide any concrete indication of its willingness to follow efforts underway in Europe and parts of the United States to impose much stricter sustainability regulations on industry, an area where the UK has lagged behind other jurisdictions in recent years.

In fact, perhaps the most important takeaway for the fashion industry is that this crushing defeat of the UK’s ruling party is likely to end in a rather bland transition. New Prime Minister Keir Starmer is seen as a solid, if somewhat unenthusiastic, centrist leader.

Against a backdrop of wider political turmoil, with the rise of the far-right in France, which goes to the polls on Sunday, and the potential return of the Democratic presidential candidate, who faces Trump in the US election in November, after President Biden's disastrous debate performance, stability could be just what British fashion needs.

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