To say it’s been a busy news week would be an understatement. A significant proportion of which was spent anticipating when Prime Minister Boris Johnson would realise the jig was up and call time on his tenure as head of the government. Unsurprisingly, this took some time. This has highlighted some of the worst aspects of the UK currently and underpins why I believe the UK would fail an ESG assessment, if these did exist for countries.

Firstly, and perhaps most obviously, let’s start with the G – governance.

Clearly the UK is not being well governed right now, and it can be argued, has not been for some time.

It is hard to imagine any company would have been allowed to operate in the way the government has this week and plans to keep doing for the next few months. Any chief executive that lost even two of their senior team within minutes of each other would likely have to step down immediately.

Moreover, the evidence of dishonesty, cover ups and law breaking all point to a poorly run government and contribute to the UK being seen as somewhat of a laughing stock on the international stage at the moment.

Moving onto the S – social.

The resignations were all triggered by allegations appearing in The Sun of then deputy chief whip Chris Pincher committing sexual assault. It became clear that Mr Johnson was aware of allegations when he offered Mr Pincher the job.

Any organisation where sexual assault allegations are not taken seriously and the perpetrators are allowed to not only keep their jobs but be promoted too, is not going to be one with an inclusive and positive culture.

Talented individuals may well be forced to leave out of fear and/or be put off the industry completely.

Outside of politics, as the school holidays approach there’s been an increased focus once again on the cost of childcare and how unaffordable it is for so many people. This is turn is forcing people – in many cases women – out of the workforce.

Additionally, reports of racism among the crowd at Edgbaston overshadowed England’s victory over India in the cricket.

While all different, these issues all point to a poor social score and a lack inclusion throughout many aspects of life in the UK.

And finally, the E – environmental.

The environmental side has not been quite so obvious this week. However, seeing all the cabinet ministers (or ex-ministers should I say now?) arrive at Number 10 Downing Street in chauffeured vehicles did feel somewhat out of touch, particularly given most of their offices are hardly far away.

In many ways, the images appear out of touch and old fashioned, perhaps demonstrating the government is behind the times.

It would be refreshing to see them arrive on foot or even on bicycle. I am sure appropriate security can still be arranged.

So, why does any of this matter to the wealth sector?

Part of what makes the UK wealth management industry so successful is London and the UK’s reputation.

Equally, it is bad news for investments. The pound is very weak and UK companies simply do not make appealing investments given the current geopolitical backdrop.

If the UK is to remain a desirable location to do business in, our government must hold itself to higher standards and we must focus on returning to strong ESG principles.