London Daily

Focus on the big picture.
Monday, Jun 15, 2026

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

0:00
0:00
Close
UK Parliament Opens Week of Fast-Tracked Security and Infrastructure Legislation
Northern Ireland Projects £21 Million Boost From Major Cultural and Sporting Events
UK and Japan Sign Technology Security Pact to Strengthen AI and Supply Chain Cooperation
UK Welcomes US-Iran Peace Breakthrough Aimed at Restoring Strait of Hormuz Shipping
British Forces Intercept Russian Shadow Fleet Oil Tanker in English Channel Sanctions Operation
UK to Ban Social Media for Under-16s Under Landmark Online Safety Expansion
Anti-Immigrant Riots Spread Across Belfast, Raising Security Concerns
Ministry of Defence Opens Europe's Largest Drone Testing Facility in Swindon
Kemi Badenoch Calls for Deregulation to Restore City's Global Competitiveness
UK Housing Market Posts Sharpest June Price Decline in Fourteen Years
NHS Waiting Lists Rise to 7.22 Million as Diagnostic Delays Reach New Highs
Makerfield By-Election Raises Prospect of Labour Leadership Challenge
Bank of England Expected to Hold Interest Rates at 3.75% Despite Growing Policy Divisions
Royal Marines Seize Sanctioned Russian Oil Tanker in English Channel
Prime Minister Keir Starmer Set to Ban Social Media and AI Chatbots for Under-16s
United Kingdom Markets Rally After US-Iran Deal Reopens Strait of Hormuz
Defence Secretary John Healey Resigns Over Military Spending Dispute, Triggering Cabinet Crisis
Royal Navy Takes Part in Trooping the Colour for the First Time in 350 Years
Think Tank Warns Labour's European Union Reset Could Carry Significant Economic Costs
UK Semiconductor Centre and Japan's Rapidus Forge Advanced Chip Manufacturing Partnership
UK and Japan Launch Offshore Wind Compact Backed by £9 Billion in Investment
Starmer and Trump Discuss Iran Peace Efforts and Reopening of the Strait of Hormuz
United Kingdom and Japan Sign £18 Billion Investment Partnership Focused on Clean Energy and Advanced Technology
Barclays Moves to Acquire GoHenry in Bid to Expand Youth-Focused Fintech Services
UK Lupus Patients Show Remission in NHS Genetic Therapy Trial
London Clean Air Zones Linked to Fewer Emergency Hospital Admissions for Respiratory Illness
UK World Cup Scheduling Research Suggests Energy Bill Savings From Off-Peak Usage
UK Economic Anxiety Rises Among Young People Over Long-Term Job Prospects
NHS Expands Meningitis B Vaccination Programme for School Leavers and New Students
London Ultra-Low Emission Zone Linked to Drop in Emergency Respiratory Hospital Admissions
Derbyshire Police Officer Investigated Over Alleged Use of AI-Generated Evidence in Case Files
UK Parents Back Proposed Under-16 Social Media Ban as Online Safety Concerns Grow
Four Palestine Action Activists Jailed Over Sabotage Attack on Israeli-Linked Arms Facility
Barclays to Acquire GoHenry in Push to Expand Digital Banking for Children and Teenagers
UK Government Reaffirms Defence Spending Commitment Amid Cabinet Pressure and Political Disputes
Belfast Unrest Prompts Security Review as Paramilitary Activity Comes Under Renewed Scrutiny
SpaceX IPO Pushes Elon Musk to Become World’s First Trillionaire After Record Valuation Surge
United States and Iran Near Landmark Peace Framework as Negotiations Reach Final Stages
UK Competition Watchdog Investigates Ryanair Family Seating Charges
Imperial College Study Links London Emissions Charges to Lower Hospital Admissions
Scottish First Minister Launches US Trade Initiative Ahead of World Cup Match in Boston
Fifteen Million Workers Gain Expanded Sick Pay Rights Under UK Reforms
British Retail Investors Secure Record Participation in SpaceX Share Offering
Keir Starmer and Micheál Martin Coordinate Response to Northern Ireland Violence
NHS Prepares for Major Disruption as Resident Doctors Announce Four-Day Strike
Bank of England Expected to Hold Rates as Energy Costs Complicate Inflation Outlook
Britain Moves to Ban Under-16s From High-Risk Social Media Platforms and AI Chatbots
UK Economy Contracts as Middle East Conflict Weighs on Growth
Defence Secretary John Healey Resigns Over Military Spending Dispute With Treasury
Prime Minister Keir Starmer Faces Leadership Crisis After Senior Cabinet Resignations
×