The Labor Party is stepping up its efforts to persuade the City after a Conservative mini-budget wreaked havoc on the economy, speeding up meetings with leaders of Britain’s biggest businesses.
The diaries of Keir Sturmer, his shadow prime minister Rachel Reeves, and shadow business secretary Jonathan Reynolds have appeared in recent weeks as executives press for contact with the Labor front bench. , is filled with coffee meetings and dinners.
The move is known as the “Shrimp Cocktail Offensive 2.0”, a reference to the efforts Tony Blair and Gordon Brown made during their opposition years and their landslide victory in 1997 to win the support of the UK financial sector. explained.
The next big engagement between the Labor Party leader and his top economic team and executives will take place in London in early December, when the party will host an upcoming ‘labor business’ event featuring a panel discussion and lunch. It will be held.
The event heats up following a packed reception of executives and entrepreneurs at the Labor Party conference in Liverpool, where tickets sold out in record time. Sturmer and Reeves were among the senior politicians to speak to an audience of over 600 business leaders and international guests at the event.
The Labor Party said the September meeting in Liverpool was attended by the largest number of businesses since 2010.
Since the meeting, Labor has extended its lead in the polls following market turmoil, a fall in the value of the pound and surging government borrowing costs unleashed by the ill-fated mini-budgets of Liz Truss and Kwasi Kwarten.
Relations between the Conservative Party and business leaders had struggled to recover under Prime Minister Boris Johnson.
Tory internal strife and the resignation of the Truss only exacerbate matters, and is a marked change from the party’s previous self-proclaimed stance as a party of business.
Contacts from business leaders have increased significantly in recent weeks amid ongoing changes in city-party relations that have deteriorated under Jeremy Corbyn’s leadership, labor sources said.
The Guardian understands that Labor hopes to reach its goal of meeting with the management of 250 of Britain’s largest listed companies by early next year.
HSBC and NatWest banks, professional services firm EY and multinationals such as Siemens and Nissan are among the companies that have met with Labor.
The country’s largest retailers and major employers, including Tesco and Sainsbury’s, have also been in touch with the top Labor Party team in recent weeks.
Reynolds explained that the business is “an essential partner in building the fairer and greener Britain we want”.
“We’re an unabashed pro-business and pro-worker party, and it’s been great talking to businesses of all sizes,” Reynolds said. We are very grateful to the companies for their support and support.Business leaders know that when it comes to economic growth, only workers have the pitch.”
Workers are understood to be increasingly engaged with small businesses through a national network of local chambers of commerce. We will also be hosting more meetings with small businesses ahead of our Small Business Saturday in early December.
Workers sources said the party and businesses don’t always agree, but felt the recent wave of engagement from businesses showed what the city sees as a “credible alternative.” .
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