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Do finance professionals make the best politicians?

12/05/15

We know better than most that those with a grounding in finance have the capacity to go on to have interesting and varied careers.

Accountants often go on to take the helm of leading companies , with their drive and attention to detail laying the foundation for vocational success in a variety of fields.

However, in the past finance professionals have been underrepresented in Parliament in comparison to other career routes. Lawyers and journalists such as Education Secretary Nicky Morgan and Justice Secretary Michael Gove are frequently represented in the upper echelons of government, while high profile accountants and financiers are few and far between.

This is changing with the emergence of a class of rising political stars with a financial background. At the 2010 election, the number of MPs with a background in the sector doubled from 1997, and rising Tory stars Sam Gyimah and Kwasi Kwarteng started out as City analysts.

The skills finance professionals can bring to politics cannot be understated. Asides from their obvious capacity for managing budgets and understanding the economy (bear in mind that our current Chancellor is a former speechwriter with a history degree) financiers often have a great mind for deal making – one of the most important aspects of modern politics.

Finance professionals who also nurture their softer side (leadership, empathy, presence) have the transferrable skills to make formidable MPs and future Cabinet stars.

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