Save time by listening to our audio articles as you multitaskAfter a frosty decade, a fervent courtship is under way between the Labour Party and Britain’s largest firms. Rachel Reeves, the shadow chancellor, has launched a charm offensive that has involved 250 meetings with chief executives, chairs and founders, according to an internal tally. Many have come away impressed.
Ed Miliband, the party’s leader from 2010-15, aspired to remodel British capitalism among German lines. One businessman says that visiting his office was like attending a seminar. Jeremy Corbyn, his successor until 2020, proposed nationalisations and higher taxes. Businesses that requested meetings were brushed off.
Business leaders who have met Ms Reeves’s team credit their openness and seriousness. Calls are taken; emails are returned; draft speeches are shared. “They are being very clear about where they agree with us and disagree,” says a bank executive. Jonathan Reynolds, the shadow business secretary, and Tulip Siddiq, a shadow Treasury minister, are also well-regarded. “There is a consistent epicentre in the shadow cabinet of eight or ten people who know the scripts,” says another executive.
It helps Labour that businesses despair of the Conservative Party. Many people assume that firms want treats such as tax cuts and deregulation. They do—but they are more interested in a stable, predictable environment in which to invest. After 12 years in office and four radically different prime ministers, the Conservatives can hardly promise that. Boris Johnson’s tenure was especially shambolic.
That's a feature, not a bug.
They’re being naive.
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Labour can only offer them more tax, more regulation, more wokery and more strikes .
Agree 🙌 But the nightmare for top investors is the government intervention and tariffs . Just as we can observe in the case of NAFTA , when the Ford started to raise unemployment . You have to think critically while granting such subsidies to private sectors.
Leave it to The Economist writers to defend cronyism.
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Of course, you've never run a business so have no fucking clue what you're talking about
Tax cuts are critical, but tax cuts only work if it can result in increased production, higher investment, greater exports, a stronger currency, more job creation, higher savings, lower interest rates....
What's about of Klaus Schwab,and his big reset ? Realize and be responsible and not complicit in this diabolical plan against Humanity! Listen 👇
Relax. Business is naturally opposed to progress being itself intrinsically exploitative.
Mention Labour (or any left-wing populist policy – at all) Without Being “offensive” Challenge You’d prefer gangpressed?
Believing Labour is naive.
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