A group of 120 influential business leaders have expressed support for the Labour Party as the general election approaches.
- Among these leaders is Andy Higginson, chairman of JD Sports Fashion, who advocates for substantial changes in the UK economy.
- The group, in an open letter, has urged a shift from the country’s decade-long economic stagnation.
- The leaders emphasise Labour’s willingness to collaborate with businesses to unlock the UK’s economic potential.
- The announcement comes as Prime Minister Rishi Sunak confirms the election date for 4 July.
A collective of 120 business leaders has publicly endorsed the Labour Party ahead of the upcoming general election. This move includes notable figures such as Andy Higginson, chairman of JD Sports Fashion, who, along with colleagues, is advocating for a significant overhaul of the current economic strategies. Their open letter, published in The Times, highlights a need to pivot from the economic difficulties of the past decade.
The letter, signed by other industry titans such as Pete Bowyer of the Association of International Retail and John Holland-Kaye, former CEO of Heathrow airport, calls for renewed political and economic stability. It stresses that the United Kingdom, with its vast potential, has been held back by a lack of consistent economic strategies and missing political stability.
These business leaders argue that the Labour Party has demonstrated a readiness to engage with the business sector to help the UK achieve its full economic potential. They believe it is crucial to seize this opportunity to foster growth and innovation to lead the country into a prosperous future.
The letter articulates a clear call for a ‘new outlook’, which the signatories deem necessary to extricate the UK from its prolonged period of stagnation. Their intent is to influence public and business sentiment, encouraging others to recognise the urgency for change.
Prime Minister Rishi Sunak’s announcement of a 4 July election date has added urgency to these discussions, as the nation prepares to decide its future direction amidst these calls for economic reform.
The strong backing from business leaders highlights a significant shift in economic expectations as the UK approaches the general election.
