PracticeConsultingBusiness leaders endorse Labour

Business leaders endorse Labour

More than 50 leading figures from UK business - including a number of former Tory supporters - have called for Labour's re-election in a letter to The Times.

In a ringing endorsement of Labour’s handling of the economy, chairmen or chief executives from 58 companies – including seven from FTSE 100 companies – have stated business should back Labour.

The signatories include Habitat founder Sir Terence Conran, chairman of Amstrad Alan Sugar and bookstore founder Tim Waterstone. In the letter they state that the UK’s economic outlook is ‘brighter than it has been at any point in recent memory’.

They go on to praise the decision to award the Bank of England independence and for cutting £28bn worth of government debt.

The Labour leadership will be eager to use the support to turn campaigning in the second week away from tax and towards the UK’s economic performance.

Today’s boost follows an article for the Observer by Digby Jones, director general of the CBI, in which he claimed the UK’s reputation for low taxes is under threat.

Jones said: ‘Businesses are smarting from the extra £5.4bn they have had to pay in additional taxation in each of the last four years.’

‘Fewer tax burdens, less regulation, – these are the “musts” for UK plc,’ he added.

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