The Institute and Faculty of Actuaries (IFoA) has urged the government to set out “a bold and ambitious legislative agenda” “to tackle the most-pressing long-term issues facing the UK” in next week’s King’s Speech.

The institute highlighted the impact of short-term thinking on issues such as the prolonged strain on the adult social care system, underinvestment in key infrastructure projects, and meeting the demands of an ageing population.

“Without a strategic re-focusing on the big picture challenges that society faces, we risk sleepwalking into further danger,” the IFOA warned.

“During the election campaign, the Prime Minister advocated an end to ‘sticking-plaster politics’ and an ambition to usher in a ‘decade of national renewal’. As experts in risk management, we believe this can only be done by adopting a long-term approach to policymaking,” IFOA President, Kalpana Shah said.

“The start of a new parliamentary session provides the perfect opportunity to reset the policy agenda, with a King’s Speech that sets the tone for the long term. The IFOA looks forward to engaging with the new government and across the political spectrum, as we highlight the ways in which our sector’s skills, knowledge, and expertise can help to achieve this goal.”

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