Rolls-Royce Holdings PLC (LSE:RR.) chief Tufan Erginbilgic has advised Labour Chancellor Rachel Reeves to avoid policies that could hinder economic growth ahead of her maiden Budget.
Speaking with The Telegraph, Erginbilgic called on Reeves to support British technological advancements, including Rolls-Royce's development of small modular reactors (SMRs).
He said: “If you look at the UK, it has been lagging behind key competitors. So I think whatever the policies are, we should make sure that they actually support economic growth – and that is the big point.
“It needs to support productivity improvements, therefore infrastructure is important. That’s hopefully what the Budget will do, rather than policies which may actually get in the way of economic growth.”
Rolls-Royce has signed a swathe of SMR deals recently including one with state-owned Czech utility company ČEZ Group and other reported deals across Sweden and The Netherlands.