London Daily

Focus on the big picture.

Is Labour really back in business?

Is Labour really back in business?

Labour has made its latest pitch for power to business leaders at Canary Wharf, one of London's financial hubs. Was it enough to convince them the party is a government-in-waiting?

The symbolism was as important as the substance.

On the face of it, Labour's business conference in Canary Wharf was to launch a report promoting and encouraging business start-ups.

But it was also an opportunity for Labour to promote its pro-business credentials and further highlight its distance from the Corbyn era.

Opening the conference, Labour leader Sir Keir Starmer said the party wasn't just pro-business but "proudly pro-business".

But more importantly, was business now more pro-Labour?

Banners were proudly displayed demonstrating backing for the conference from - amongst others - HSBC and energy company SSE.

But neither Sir Keir nor Rachel Reeves, the shadow chancellor, could name a single company which was endorsing the party itself for the first time.

Ms Reeves told me it was difficult for "big businesses - certainly public limited companies - to endorse political parties".

But, she said, there had been "a huge surge in donations" to Labour from business.


On the table


The event was partly open to the press but perhaps in a sign of nervousness, some of what Sir Keir described as "the biggest engagement with businesses in a decade" took place behind closed doors.

A shadow minister was deployed to each table of attendees to discuss the party's plans in greater detail and to listen to concerns.

When he was shadow chancellor three decades ago, Labour's John Smith embarked on a "prawn cocktail" offensive - City lunches to reassure the financial sector that they need not fear a Labour government.

This time, attendees were wooed first by coffee and pastries, then over lunch with a noodle dish and strawberry-and-melon-infused water.

Labour leader Sir Keir Starmer attempted to woo business leaders in London


Access to the one Labour-supporting business figure told me "this is all about emphasising we are a serious party of government. We have to ram home over and over again that we are serious about business".

A Conservative-supporting attendee was less impressed with the content, but admired the organisation of the event - and said it reminded him of when former Tory Prime Minister David Cameron was on the cusp of power.


Industrial relations


But just how frank is Labour's engagement with business?

I tested the water during the lunchtime break with Ms Reeves.

I asked if the party had been clear that its decision to repeal 2016 trade union legislation - setting thresholds in strike ballots - would make it easier for unions to go on strike.

She said the legislation hadn't "made a blind bit of difference because when working people have had enough, they decide to take industrial action". But she suggested private businesses were likely to be more reasonable than the government.

"The business people who are here today, many of them will recognise trade unions and will work with their workers to resolve disputes," she said.

Shadow chancellor Rachel Reeves said Labour would resolve underlying issues with the unions


Neither she nor Sir Keir would commit to repealing promised - or threatened - Conservative legislation on minimum service levels, stressing that it would do nothing to solve the current disputes.

And now that permission has been given to a coal mine in Cumbria, would a pro-business Labour government really close it down if they come to power?

"There are plenty of ways to get jobs in Cumbria and the north of England," she said. "I don't think [the mine] will be open by the time of the next election. I'd be amazed if it was open."


Getting Brexit done


Exporting businesses are also keen to get tariff-free access to big markets. Labour has ruled out rejoining the EU single market, the biggest market on the UK's doorstep.

Politically, the party does not want to revisit the Brexit divisions of the past at the next election. But was the shadow chancellor - who opposed leaving the EU - really telling businesses that economic growth would be higher outside of the free-trade zone across the Channel?

Her emphasis was to improve the Brexit deal rather than turn back the clock.

"We recognise that the status quo, the Brexit deal that the government secured three years ago, it is not working for business," she said.

She said there were "practical things we can do to improve relations with our nearest neighbours and trading partners and as a government we'd be determined to do that".

Labour insiders know they have an opportunity to convince business that they can provide the stability they crave, though they have no longer been gifted with the contrast of a Liz Truss administration.

Ahead in the polls, Labour is putting emphasis on not putting a foot wrong and creating political hostages to fortune.

Appearing serious and responsible and appealing to new sources of support is seen as far more necessary than generating headlines.


The Labour leader says the appetite to talk to business about the party's plans is “palpable and tangible"



Newsletter

Related Articles

London Daily
0:00
0:00
Close
Former US President Barack Obama raps the lyrics to Eminem's ‘Lose Yourself’ after the rapper introduces him at a Kamala Harris rally in Detroit
KYIV URGES NORTH KOREAN TROOPS IN UKRAINE TO SURRENDER
Ofcom Identifies Link Between Social Media Posts and UK Unrest
Russian Boxer Receives Lifetime Ban for Illegal Move in Boxing Debut
Biden Labels Trump a Threat to Democracy
McDonald's Linked to E. coli Outbreak Leading to One Death
Teacher Enoch Burke arrested at Wilson’s Hospital School in Ireland after refusing to endorse and affirm transgender ideology.
FBI Investigates Leak of US Intelligence on Israeli Strike Plans
Israeli Airstrike Targets Hezbollah's Financial Resources
China’s Baidu is revolutionizing transportation with its robotaxi service
Angela Rayner Secures Permanent Seat on UK National Security Council
Russian Ambassador Claims UK's Proxy War in Ukraine
Doctor Advocates for Assisted Dying Law Reform
Ruth Davis Appointed as UK’s First Nature Envoy
Pressure Mounts on Starmer to Discuss Reparations at Commonwealth Summit
James Cleverly’s Costly In-Flight Catering for Government Trips
AI Regulation Takes Center Stage in 2024 US Presidential Campaign
NASA Study Explores Potential Microbial Life Beneath Mars' Ice
Cats: The Liquid-Like Pets
Netanyahu Condemns Alleged Hezbollah Assassination Attempt
Liam Payne's Tragic Death: Tributes Pour In
Cuba's Power Struggles: Nationwide Blackout Strikes Again
Xi Jinping Urges Troops to Prepare for Conflict Amid Taiwan Drills
Farage Supported by US PR Team Linked to Steve Bannon
Controversy Over MP's Comments on Female Candidate's Family Responsibilities
Highlights from the Conservative Leadership Contest TV Debate
Childminder Jailed for Inciting Racial Hatred After Southport Attack
NHS England's Repair Bill Soars to Almost £14 Billion
Russia Accused of Using Incendiary Devices to Disrupt Western Confidence
Culture Wars: 'A Dog Whistle to Attack the Right', Says Badenoch
Virtual Reality and Advanced Technologies in Combating Cocaine Addiction
Chancellor Rachel Reeves Assembles Taskforce to Safeguard Financial Stability Amid Increased Borrowing Plans
RAF Typhoon Intercepts Air India Flight After Bomb Threat
Hamas Chief Yahya Sinwar Killed in Israeli Operation
Fruit Fly Gut Hormone Study Sheds Light on Human Longevity
Tragic Loss: Liam Payne's Passing in Buenos Aires
Liam Payne's Tragic Death in Buenos Aires
Trump Criticizes Zelensky for Role in Ukraine-Russia War
Yahya Sinwar’s Death Marks Pivotal Moment in Gaza War
Tragic End for Liam Payne: Fall from Buenos Aires Hotel
US Warns Israel of Potential Aid Cuts Over Gaza Assistance Delays
Meta Faces Legal Battle Over Teen Social Media Addiction
UK Government Proposes Weight-Loss Injections to Combat Obesity and Boost Employment
UK Gambling Firms Face Market Turmoil Amid Possible Tax Hike
Labour MP Criticizes UK's Dependence on Elon Musk's X
Tracey Emin Questions the Longevity of Male Artists' Creativity
Pay Growth Decline in Great Britain May Lead to Interest Rate Cuts
David Cameron Reveals Planned Sanctions on Israeli Ministers
UK Unveils Weight Loss Jabs for Unemployed to Boost Health and Economy
Incineration: UK's Dirtiest Power Source
×