Events roundup: December 2020 | IPT

In December we hosted two virtual events to round off the end of 2020. They covered vastly different areas but were nonetheless important topics of discussion. We were once again privileged to have several high-profile speakers with CEO of the Food and Drink Federation Ian Wright CBE and Sir Ian Cheshire, Chairman of Barclays UK. We thank all those who have been able to attend both these events and any others in 2020 despite the usual circumstances we find ourselves in. 

Sustaining the UK Hospitality Sector

On Tuesday 8 December, we held a virtual event chaired by Darren Jones MP, Chair, Select Committee on Business, Energy and Industrial Strategy. He was joined by Kate Nicholls, Chief Executive, UKHospitality, Ian Wright CBE, Chief Executive, Food and Drink Federation, and Laurence Meehan, Corporate Relations Director, Diageo. The discussion focused on the importance of the hospitality sector to the UK economy and the urgent need for support.

Main points raised:

  • The hospitality sector is the 3rd largest sector employer, a large foreign tourism export earner, and generates billions in tax revenue annually.
  • The sector has lost its biggest earning period of December and support is needed now to ensure organisations survive. The sector can rebound quickly when restrictions are lifted.  
  • The lack of clarity from government is hindering recovery and an exit plan is needed to enable businesses to sufficiently prepare.  

The Future of Retail Banking

On Tuesday 15 December, we hosted a Virtual Event between parliamentarians and industry representatives entitled ‘The Future of Retail Banking.’ The discussion was chaired by Harriett Baldwin MP, Treasury Select Committee and welcomed guest speakers Sir Ian Cheshire, Chairman of Barclays UK and Andrew Haigh, Chief Executive of Newcastle Building Society. The discussion focused on the accelerated shift to digital banking methods due to Covid-19 and the future role of high street bank branches.

Main points raised:

  • The future of retail banking is likely to be a combination of both digital financial management and customer-focused in person interactions with a lot of innovation occurring over the next 5-10 years.
  • 2021 will be a challenging year for many organisations, particularly SMEs as they manage the difficulties Covid-19 and Brexit bring. How can banks support them as they recover from the pandemic?  
  • There is recognition in the industry that there needs to be greater friction provided in transactions to prevent fraud. How can this target be met whilst maintaining smooth and fast transactions?