A time for change

The Prime Minister has finally called a General Election for 4th July and I hope provided the chance to usher in a more business-friendly Government for London and the whole country. Labour have unveiled our 6 ‘first steps’ for the early days of a new administration *if* people put their faith in us on 4th July. Labour would establish Great British Energy, cut NHS waiting lists, recruit more teachers and tackle antisocial behaviour with more police officers dedicated to local areas. The number one priority is, however, to deliver economic stability after years of chaos and damage to UK plc.

The volatile climate that the Tories have fostered for 14 years has damaged business confidence and created challenges, especially in Southwark for employers affected by recruitment and retention issues.

Brexit has taken a toll on business and knocked 4% off UK GDP, but the disastrous Truss mini-budget which crashed the economy, was the final graphic representation of the loss of trust for employers and mortgage holders across the country.

Under Keir Starmer and Rachel Reeves’ leadership, Labour has been engaging with business leaders, stakeholders and entrepreneurs to work together on our policy offers. Labour has published a raft of policy commitments and will shortly publish a full, and fully costed, manifesto to address the chronic problems the Tories have created and the major challenges facing the UK economy.

Labour will stick to tough spending rules, align more closely with the European Union, and attract greater investment, including for GB Energy. Only with economic stability, not the disastrous, short-sighted and damaging decisions the Tories have taken in recent years, can we provide the right environment for businesses to thrive and our economy to grow. Labour will also cap Corporation Tax at 25% for the next parliament, create a National

Wealth Fund to unlock billions in public and private investment, kickstart a skills revolution and help many more people into work, establish Technical Excellence Colleges, and reform the Apprenticeship Levy which only one employer in Southwark has ever described as useful with a majority of local firms criticising the current Government’s levy as just another tax with no benefits.

The Tories have cut help to London, slashed growth and undermined our capital city. The opportunity is on the table for Londonbased businesses to benefit from a new Government laser-focused on stabilising our economy, working in partnership with the most business-friendly Mayor now entering his historic third term. Sadiq has already delivered his ‘Grow London Local’ scheme to support for small, micro and medium-sized businesses and his growth agency, ‘London & Partners’ to aid in the capital. I hope by the next Business Today he is able to do even more, working in tandem with a Labour Government.

Southwark businesses have been shortchanged for 14 years and tell me they need change now. On 4th July that change can only be delivered if people choose to end the chaos and division under the Tories, and elect Labour’s business-friendly plan with Rachel Reeves and Keir Starmer.