The UK's Labour party received support from 120 business leaders on Tuesday as it seeks to unseat the ruling Conservatives in the upcoming general election. The coalition of CEOs and other senior figures emphasized the need for change, citing instability, stagnation, and a lack of long-term focus in the UK economy, along with a deficiency in essential skills and infrastructure.
These business leaders, including notable names from various industries, expressed their belief that Labour is committed to collaborating with business to unlock the country's full economic potential. The joint letter, published in The Times, urged giving Labour the opportunity to lead Britain into the future.
The endorsement signifies Labour's efforts to distance itself from a less business-friendly era under former leftist leader Jeremy Corbyn, who oversaw the party's worst election outcome in decades before stepping down. The Conservatives, in power for 14 years, have traditionally been more favored by the business community, but recent events, such as Brexit and controversies, have tarnished their reputation.
Labour leader Keir Starmer and finance spokesperson Rachel Reeves have been actively engaging with business leaders to regain their trust. Reeves, aiming to become the finance minister if Labour assumes power, is set to address industry leaders, pledging to establish the most pro-growth Treasury in history and emphasizing the party's support for both workers and businesses.
