After the Labour Party's election win, initial optimism among business leaders shifted to discontent due to tax increases, persistent red tape, and lack of communication with the government. Borrowing costs have spiked, leading companies to cut jobs and delay investments. The government faces challenges in balancing the interests of businesses and unions, while not pleasing either side adequately. Concerns have arisen about losing business support, which is crucial for job creation and economic growth, particularly following market turmoil and proposed welfare reforms.
Companies say they are being forced to cut jobs, delay investment - and in some cases, move their listings altogether.
I'm struggling to see what's business-friendly so far, said Bernard Fairman, executive chairman of Foresight Group.
We thought we had a really strong relationship, but then those sorts of surprises where we had significant business cost hikes were a kind of reset moment, said Stephen Phipson.
The government is faced with a balancing act - appeasing companies as well as the unions that help support the party financially.
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