Scores of business figures including television chef Tom Kerridge have backed Labour ahead of the General Election, in a letter that says change is needed “to achieve the UK’s full economic potential”.
In a letter published by The Times, 121 executives, including Sir Malcolm Walker, the founder of Iceland who in 2015 publicly backed the Conservatives, said: “The UK has the potential to be one of the strongest economies in the world. A lack of political stability and the absence of consistent economic strategy have held it back.”
Other names attached to the letter include former executives from JP Morgan, Heathrow, and Aston Martin, along with JD Sports chairman Andrew Higginson and Wikipedia founder Jimmy Wales. Rachel Carrell, the CEO of Koru Kids, the childcare agency which was once invested in by the Prime Minister’s wife, also signed the letter.
The letter says: “We, as leaders and investors in British business, believe that it is time for a change. For too long now, our economy has been beset by instability, stagnation, and a lack of long-term focus.
“We are looking for a government that will partner fiscal discipline with a long-term growth strategy, working in partnership with the private sector to drive innovation and investment to build digital and physical capital and fix our skills system. This is the only way to put us on track for sustained productivity growth.
“We are in urgent need of a new outlook to break free from the stagnation of the last decade and we hope by taking this public stand we might persuade others of that need too.”
It comes as shadow chancellor Rachel Reeves is set to portray Labour as a pro-business and 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 business back to Britain we can deliver a better future for working people,” she will say.
Ms Reeves will say Labour offers “a government that is pro-worker and pro-business, in the knowledge that each depends upon the success of the other”.
Her remarks come after Labour faced a backlash over an apparent rebranding of its “New Deal for Workers”, with Britain’s largest trade union Unite warning that the party must “stick to its guns” on workers’ rights.
Labour insisted it had not watered down its commitments, adding the proposals had followed agreement with the unions.
The Conservatives have argued that Labour’s proposals would cost jobs and place unnecessary burdens on businesses, but the opposition have claimed good businesses will welcome the plans.
Additional reporting by the Press Association
Election 2024
Rishi Sunak and Sir Keir Starmer are out on the campaign trail after the Prime Minister announced a surprise snap election on 22 May. i‘s general election live blog follows all the twists and turns of the election period from all the major parties.
So far, the Tories have announced a controversial mandatory national service policy which has garnered mixed opinion from across the political spectrum, and a “triple lock plus” for pensioners. Meanwhile, Starmer has set out some of Labour’s key policies, while assuring voters they can be trusted on the economy and national security.
Odds on who will become the next Prime Minister currently favour Starmer, and the polls tell the story of a massive Labour majority.
Keep up to date with the 2024 general election in our extensive coverage, on everything from the main parties’ pledges on policies like immigration and pensions to the seats still without a candidate.
