City AM: Why more City workers should join the Army
Read the full City Am article here.
Global instability is on the rise, with the Prime Minister pledging to put “boots on the ground” in Ukraine, while President Trump’s return to office sparks fresh debate on defence spending. As we approach the strategic defence review, one thing is clear: support for our Armed Forces has never been more crucial.
We rely on our Armed Forces to protect the very assets that make the City a global financial powerhouse. From the freedom of the seas that ensures global trade, to the freedom of the skies that facilitates the movement of people, our security infrastructure underpins everything we do. The financial services sector, in particular, thrives on secure communications and data flow – which are safeguarded by our military.
However, it is not a one-way street. To paraphrase Sir Winston Churchill, private enterprise is the “healthy horse” that pulls the UK’s economy along. Our world-leading reputation means that when the City talks, the world listens, playing an important soft power role that complements the Armed Forces’ physical might.
The Armed Forces Covenant (AFC) is a promise by employers and other bodies that those who serve or have served in the Armed Forces, and their families, are treated fairly. The AFC plays a key role not only in supporting veterans but also adult volunteers. Many City organisations are already signed up to the AFC. The Defence Employer Recognition Scheme also acknowledges employers providing exceptional support to the Armed Forces community. But we need more businesses to get on board.
That is why I will be hosting an important dinner at Mansion House this week with veterans minister Alistair Carns MP and Barclays COO Alistair Currie. The goal? To thank the businesses already supporting veterans and reservists, and to encourage others to join the effort. We need to make it clear that backing those who serve is not just the right thing to do, it is good for business. I am delighted to say that many chairs and CEOs of the largest City companies will be in attendance. It is hugely encouraging to see this support from our major companies.