Our teams were at every party conference, understanding what the parties were saying about the FMCG and retail sector.
If we’re being honest, party conference season offered few big moments for the FMCG sector.
While the Government used its platform to talk about growth, fairness and rebuilding the economy, its focus on high streets and business rates shows how it sees consumer-facing sectors through the lens of place, not production.
Labour’s message was that the foundations for growth are now set. While there are still some policy details yet to be fleshed out, the mood from Defra, the Treasury, and the Health Department is broadly that reform has been done; and it’s now time for delivery. But for many across food, drink, and retail, there’s a sense that the next stage depends on that detail still missing from the government’s plans.
A focus on high streets and business rates
The clearest announcements were about high street regeneration and reforming business rates – signalling that government wants to be seen as backing local economic renewal. That matters for FMCG brands whose reputations are rooted in consumer access and everyday retail presence.
But the conversation remained localised, not systemic. Policy signals on food production, packaging, and waste – all key drivers of long-term competitiveness – were largely absent. There was little discussion of how supply chains will adapt to new regulation, how to incentivise sustainable packaging investment, or how the sector will support the government’s broader missions on health and climate.
This reflects a cautious political calculation. Food and consumer goods touch culture and lifestyle as much as economics – and with limited fiscal headroom, the government seems keen to avoid new battles on cost or choice.
Silence on waste and food system reform
That silence is being noticed. Businesses across FMCG still need a bit more clarity on extended producer responsibility (EPR), deposit return schemes (DRS), and consistent recycling – all long-promised but yet to be fully implemented. The delay is holding back investment and undermining progress towards circular models.
The same applies to food policy. The sector is still waiting for a comprehensive framework that connects the dots between nutrition, innovation, trade, and sustainability. The previous government’s patchwork approach left gaps in coherence – and so far, this administration hasn’t filled them.
Stakeholders now talk less about ambition and more about alignment. There’s widespread acceptance across major FMCG players that sustainability and circularity are commercial imperatives. The challenge is that without coordination, brands risk moving faster than the policy landscape that should enable them.
What to watch: food and circular economy strategies
Attention is now turning to forthcoming updates to the Circular Economy Strategy, consultations on the Food Strategy, and a potential Food White Paper, all of which are expected to set out how the Government intends to deliver on its growth and sustainability missions.
The question is whether these strategies will provide genuine direction, or just repackage existing commitments. Businesses will be looking for policy coherence across departments – from trade to environment to health – and for a signal that the government understands the link between competitiveness and sustainability.
The coming months will also test how far Labour’s “securonomics” approach applies to food and consumer goods. Can a policy agenda built on resilience, fairness and productivity translate into practical measures on packaging reform, waste infrastructure and food innovation?
A sector waiting for clarity
The FMCG sector sits at the heart of the government’s biggest missions – on growth, sustainability, and cost of living – but remains on the edges of its policy agenda.
For now, the politics of consumption are being framed around place and affordability, not production and reform. But if this government wants to deliver growth that’s both sustainable and visible to consumers, the next set of strategies will need to connect those dots.
Because for food, drink and retail, clarity is the difference between policy that delivers, and one that just looks like it does.
