Political Consultancy

Futureproofing succession planning and corporate interests in line with upcoming UK political changes.

The effects of populism and a rise in the anti-establishment sentiment are widely seen across Europe and in the UK, and predictions for a next election align Labour and the Conservatives very close in the political race. A momentum Labour Party is now arguably a real socialist party as opposed to the socialist-democratic parties of Blair or Brown.

The division over Brexit within the Conservative party could tear the government apart and prompt a general election at short notice before the current 5 year term lapses.

How does this impact on clients

Higher taxes imposed by Labour will lower the net return on investment for individuals and could therefore lead to slower growth and business confidence is likely to be affected. There are also numerous concerns at a personal level for high net worth earners.

Many UHNWIs are concerned about the ‘climate’ that might settle in, where wealth creation/acquisition is not admired and respected in the same way as it has been for the past decades.

At the same time, a Conservative incumbent might equally consider a change in the treatment of the UHNW population to raise further taxes for the Treasury.

What can families do now?

Whilst there is no way of predicting the future, families can take the necessary steps to ensure they are as prepared as possible and their structures are flexible enough to change the course of their family/business decisions where needed.

This is particularly relevant for HNWIs in the context of succession planning and asset protection.

How we can help

We have teamed up with one of the country’s leading political science professors and an Associate Fellow at Chatham House. Together we help assess the political impact by funnelling the analysis from a macro policy level to an individual/corporate entity level and determine suitable actions for the family to create and/or ensure the robustness of their structures.

We work closely with families and their existing advisers to identify the impact of policies on families, their commercial interests and structures and consider potential approaches for moving forward.

Whether we are required to assist on a complex project or in respect of a singular aspect of the family business, we would also make sure our client’s interests and goals are at the front of what we do and the family feels supported.

KNOX PRIVATE OFFICE

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