It comes after Labour secured a significant majority in the General Election in the early hours of Friday, with Sir Keir Starmer now set to take over as Prime Minister from Rishi Sunak. The run-up to the election saw both parties focus heavily on the economy following a turbulent few years which saw household finances hammered by soaring inflation. Trade bodies and business groups indicated on Friday morning that there is an opportunity for the new Government to drive growth in the coming year.
” Nevertheless, there was some caution in certain industries over the impact of Labour’s win. Offshore Energies UK raised worries over plans for further windfall taxes and to stop issuing new North Sea oil and gas licences. David Whitehouse, chief executive of OEUK, said: “The people in our sector and investors remain deeply concerned over Labour proposals to impose a further windfall tax and end new licences.