Would You like a feature Interview?
All Interviews are 100% FREE of Charge
A number of business figures, including TV chef Tom Kerridge, have backed Labour ahead of the general election, writing a letter saying change is needed “to realise the UK’s full economic potential”.
In a letter published by Times“The UK has the potential to become one of the most powerful economies in the world. A lack of political stability and a lack of a coherent economic strategy are holding this back,” said the 121-strong coalition, which included Iceland’s founding father, Sir Malcolm Walker, who officially backed the Conservatives in 2015.
Those named in the letter include former executives from JP Morgan, Heathrow and Aston Martin, JD Sports chairman Andrew Higginson and Wikipedia founder Jimmy Wales. Rachel Carell, CEO of Koru Kids, a childcare company in which the first lady was once an investor, also signed the letter.
The letter said: “As UK business leaders and investors, we believe it is time for change. For too long, our economy has been plagued by instability, stagnation and a lack of long-term perspective.
“We want a government that combines fiscal discipline with a long-term growth strategy, working with the private sector to drive innovation and investment, build digital and physical capital, and improve our skills systems. This is the only way we will get on track with sustained productivity growth.”
“We urgently need a new vision to move us out of the stagnation of the past decade, and I hope that by taking this public stand I will convince others of that need as well.”
The announcement comes as Shadow Chancellor Rachel Reeves seeks to portray Labour as a pro-business, pro-worker government.
In her first major election speech on Tuesday, she is expected to tell business leaders that having brought business back to Labour, the party can now “bring growth back to Britain”.
“By bringing businesses back to the UK, we can give working people a better future,” she will say.
Reeves will say Labour is a “pro-worker and pro-business government, and we recognise that the success of each depends on the success of the other”.
Her comments come after Labour faced a backlash over its rebranding of the “New Deal for Workers” and after Britain’s largest trade union, Unite, warned that Labour needed to “stand its ground” on workers’ rights.
Labour insisted it was not watering down its pledges, adding that the proposals were in line with agreements reached with trade unions.
The Conservatives say Labour’s proposals will cost jobs and put unnecessary burdens on businesses, but the Opposition says blue-chip businesses would welcome the plans.
Additional reporting by the Press Association