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UK PM Calls for Business Culture Shift
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In Short: The UK needs a 'culture shift' in how it does business, Prime Minister Andy Burnham has said, as he prepares to meet with top executives.
The UK needs a 'culture shift' in how it does business, Prime Minister Andy Burnham has said, as he prepares to meet with top executives. Burnham emphasized the importance of backing those who take risks and empowering local leaders to work closely with businesses to attract investment and create jobs.
Burnham stated, 'When local leaders have the tools to get things done and government works in partnership with business, you can pull in investment, create jobs and transform communities.' However, others argue that the current Labour government has created its own problems by increasing costs for businesses, such as with the employer national insurance and minimum wage changes under his predecessor Sir Keir Starmer.
Burnham will host a reception for the business community before a private engagement with senior chief executives at Downing Street on Monday evening. The meeting comes as higher borrowing costs in the UK and other countries present problems for governments looking to support businesses or invest in infrastructure.
The US-Israel war with Iran has led to a sharp jump in oil prices, which has fed through to higher energy and fuel prices, affecting households and businesses. This adds to the challenges faced by the UK government in its efforts to support the business community.
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Sources
- BBClink