Executives push back on tax hikes
Business leaders will descend on Labour’s annual conference in Liverpool next week with a clear message: no more tax raids on companies.
After a turbulent first year in office, the government faces mounting criticism from industry figures who say last November’s Budget undermined Labour’s pro-business credentials. Executives now want assurances that growth, not higher charges, will be the priority.
Concern over leadership rows
The backdrop is Labour’s internal turmoil, with Greater Manchester mayor Andy Burnham fuelling speculation about a leadership challenge. Business chiefs fear the uncertainty could hit markets and damage confidence. Steve Rigby, head of the Rigby Group, said “rotating prime ministers” risked repeating the mistakes of the Conservatives.
A major reshuffle earlier this month, which saw business secretary Jonathan Reynolds replaced alongside his entire team, has also unsettled companies. One lobbyist described the shake-up as “baffling”.
High price for access
Top executives from Sainsbury’s, NatWest, Centrica and Octopus Energy are among those attending the £5,000-a-head business day. They will meet new business secretary Peter Kyle over breakfast before hearing from Chancellor Rachel Reeves.
While the ticket price has been branded “ludicrous” by some, organisers have promised more interaction after last year’s event was criticised for leaving delegates in a “windowless room” watching speeches on a screen.
Focus on growth
Industry groups are pressing for infrastructure investment, simpler regulation, and measures to boost employment. Shevaun Haviland of the British Chambers of Commerce said members wanted a tax system that “incentivises growth”.
The government insists it remains pro-business, pointing to recent trade deals, interest rate cuts and financial services reforms.
