Brexit and Trump show need to respond to change, Theresa May says
Brexit and the surprise rise of Donald Trump to the White House show that the downside of globalisation needs to be tackled because too many low income people feel left out, Theresa May will say.
The Prime Minister is set to use a key-note Mansion House address to warn that those at the bottom of the economic ladder see globalisation as a job destroying, income cutting cause for concern rather than a necessary boost for trade.
"We can't deny ... that there have been downsides to globalisation in recent years, and that - in our zeal and enthusiasm to promote this agenda as the answer to all our ills - we have on occasion overlooked the impact on those closer to home who see these forces in a different light," she will say.
"These people - often those on modest to low incomes living in rich countries like our own - see their jobs being outsourced and wages undercut. They see their communities changing around them and don't remember giving their permission for that to be the case.
"If we are to continue to make the case for liberalism and globalisation, as we must, we must also face up to and respond to these concerns.
"If we believe, as I do, that liberalism and globalisation continue to offer the best future for our world, we must deal with the downsides and show that we can make these twin forces work for everyone."
Mrs May will tell the business audience that politicians must respond to the change which has left the world transformed in barely 12 months.
"A year ago, few among us would have predicted the events ahead. A clear, determined decision to leave the European Union and forge a bold, new, confident future for ourselves in the world.
"And, of course, a new president-elect in the US who defied the polls and the pundits all the way up to election day itself.
"Change is in the air. And when people demand change, it is the job of politicians to respond," Mrs May will say.