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ICAEW has called for stability and a smooth transition of power, following prime minister Sir Keir Starmer’s resignation speech yesterday (22 June).
The industry body said it hoped the next leader will “listen to the voices of business” to boost growth across the UK.
It comes as Starmer announced his departure outside 10 Downing Street after two years in power. In a six-minute speech, he said he would remain in the role until the Labour Party decides a new leader.
The announcement followed months of mounting pressure from opposition parties and within the Labour Party. Speculation about a change in leadership escalated following local election losses.
Political tension peaked after the former mayor of Manchester, Andy Burnham, won the Makerfield parliamentary by-election on 18 June. Burnham has long been considered a potential challenger to the leadership.
Nominations for the next leader will open on 9 July, with a new leader expected to be in place by September.
Following the speech, Alan Vallance, chief executive of ICAEW, thanked him for setting out an orderly transition “at a time when businesses need certainty and stability above all else”.
Vallance said: “We hope that the next prime minister will listen to the voices of business and the profession to ensure that the UK develops the conditions necessary to encourage growth.”
