Labour Party Conference 2026
This Labour Party Conference was Andy Burnham’s first as Prime Minister, following on from a summer of spending commitments designed to create breathing room for consumers. The mood among ministers, MPs and party activists was more positive and united than many had anticipated. Across conference, the overriding message was clear: growth remains the Government's central mission, with business expected to play a key role in supporting delivery to generate ‘Hope Again’ (the conference slogan).
Growth, investment and pensions
As with earlier conferences, growth and investment dominated discussions throughout conference. Ministers, Metro Mayors and other stakeholders repeatedly highlighted the need to unlock private capital to support infrastructure, housing, regional growth and productivity improvements. There remains strong political interest in the role pension funds and insurers can play in supporting these objectives, alongside a growing recognition that attracting institutional investment depends on tackling the challenges to investment, e.g. matchmaking projects and funding, identifying skills, etc.
Our sponsorship of the Metro Mayor reception allowed Hannah Gurga to communicate progress on the £100 billion investment commitment to all the Metro Mayors and Angela Rayner who were at the event. At discussions involving government, investors and regional leaders there was a notable focus on investment readiness, local delivery capacity and the importance of public and private sectors working together.
While politicians remain interested in mobilising long-term savings to support growth, there is an increasing recognition that simply increasing available capital is not sufficient without commercially viable projects.
Financial services, innovation and AI
Labour continues to present financial services as a strategic growth sector for the UK economy. Discussions on artificial intelligence and innovation highlighted the Government's desire to support technological adoption while managing risks to consumers, financial stability and the wider workforce. Ministers acknowledged the opportunities AI presents in improving productivity, supporting innovation and helping consumers make better financial decisions. Alongside this, there was recognition that regulators and policymakers will need to remain agile as technology develops. These discussions reinforce the importance of maintaining a regulatory environment that supports innovation while protecting consumer confidence and market stability. At our In Conversation with Think Labour, Lord Anas Sarwar (Minister, BIST) spoke about how pensions and insurance expertise was the next growth area for exports.
Health, employment and economic inactivity
Addressing economic inactivity emerged as one of the Government's most significant social and economic priorities. Across a range of conference events there was considerable discussion about long-term sickness, workplace health and the role employers can play in helping individuals remain in or return to work. Stakeholders highlighted the importance of early intervention, rehabilitation and practical workplace support. There was also growing interest in how public, private and third-sector organisations can work together to support better health outcomes, particularly for individuals experiencing long-term physical or mental health conditions. For insurers and protection providers, these discussions present opportunities to demonstrate the contribution that workplace health services, group protection products and preventative approaches can make to supporting labour market participation and economic growth.
What this means for members
Several themes are likely to shape engagement with government over the coming months.
- Growth remains the Government's overriding political and economic priority, and ministers are looking to the private sector to help deliver that ambition.
- Policymakers continue to see pension and insurance capital as an important source of long-term investment that can support UK growth and regional development.
- Economic inactivity and workplace health are moving further up the political agenda, creating opportunities for engagement on prevention, rehabilitation and protection products.
- Financial services competitiveness, innovation and AI remain key government priorities, alongside maintaining consumer trust and resilience.
- Regional leaders and devolved institutions are becoming increasingly influential stakeholders in shaping and delivering economic policy.
What’s next
Over the next week the ABI will be at Plaid, Green and Conservative Party Conferences, representing members and we will continue to share our thoughts and reflections.