More than one hundred British business leaders have come out in support of the Labour Party ahead of July’s general election, arguing the economy needs revitalising.
Some 120 prominent figures such as Wikipedia founder Jimmy Wales, chef Tom Kerridge and former bosses of Heathrow, JP Morgan and Aston Martin signed the open letter declaring their support of the party.
“For too long now, our economy has been beset by instability, stagnation, and a lack of long-term focus,” the open letter published by the Times said.
In a call for change, Labour said it would “partner fiscal discipline with a long-term growth strategy” while also leaning on the private sector to “drive innovation and investment”.
“Labour has shown it has changed and wants to work with business to achieve the UK’s full economic potential. We should now give it the chance to change the country and lead Britain into the future,” the letter added.
Other signatories included JD Sports chair Andrew Higginson, Iceland founder Malcolm Walker, ex-FCA chair Charles Randell and Rachel Carrell, the founder of Koru Kids, the company which Sunak’s wife once held shares in.
Over at the Conservative party, Sunak promised today that pensioners will never pay tax on their state pension under his government if it wins the next election.
Having already guaranteed to maintain the “Triple Lock” if he is returned to power, Sunak added that the personal allowance for pensioners would increase by at least 2.5% or in line with the higher of earnings or inflation.