Business chiefs welcome ‘clarity’ of landslide Labour election victory

Bosses across the retail, energy and hospitality sectors have urged the incoming Labour Government to fulfil its pledge of prioritising economic growth after Sir Keir Starmer’s election victory.

Sir Keir and the Labour Party are preparing to form a government after routing the Conservatives in Thursday’s General Election.

Greg Jackson, founder of the UK’s biggest energy provider Octopus, said: “Voters have rejected anti-net zero rhetoric and chosen cheaper, cleaner, more secure energy.”

He said the result was a “landslide for a green economy”.

Mr Jackson has previously expressed support for Labour’s plan to set up a state-owned energy investment company, GB Energy, which is a central part of Labour’s pitch to decarbonise the UK by 2030.

Alex Baldock, chief executive of retailer Currys, urged Labour to follow through on its manifesto promise to replace business rates.

He said: “Retailers are looking for stability, of course, but also for the Government to provide the conditions for growth, through better skills, infrastructure and planning.

“Most of all, we must urgently fix the broken, damaging and unfair burden of business rates.”

Mr Baldock added: “We urge the Government to consult and act on all of this and, as they do so, we at Currys will engage with them all the way.”

Labour has sought to position itself as a pro-business party since Sir Keir became leader in 2020, and has put the economy and business at the centre of its pitch to voters.

In a May letter, 121 founders, chief executives and former leaders at a range of financial services, retail and manufacturing firms backed Labour’s economic plans.

John Roberts, chief executive of electrical retailer AO World, said the business sector had some “clarity” following Labour’s win and called on the new Government to deliver on its “clear mandate”.

He said the Conservatives have been “dysfunctional for some time” and added he was “hopeful” for the country and business sector under a change of government.

Mr Roberts told the PA news agency: “There’s a really clear mandate for what is finally an elected leader to go and deliver.”

Chris Jowsey, chief executive at Admiral Taverns, which manages about 1,600 pubs, said: “We look forward to working with the new Government to ensure pubs get the recognition they deserve for all the hard work they put into communities across the UK.”

He added: “We urge the Government to provide an overhaul of the business rates system, introduce beer duty reforms and a cut on employer national insurance to help facilitate the growth of long-term, sustainable pubs that sit at the heart of their communities and support all aspects of local life.”

Steve Hare, chief executive at global software company Sage PLC, said: “Many leaders of the UK’s small and medium-sized businesses will welcome a decisive outcome, as businesses need certainty and a stable policy environment to grow and thrive.

“Now, to kick-start economic growth, this new Labour Government must take action to support the nation’s small and mid-sized firms.”

Michael Topham, chief executive of waste removal giant Biffa, said he was “pleased to welcome” the new Government.

He said: “The Government has pledged to collaborate with industry to deliver its manifesto commitments, including a renewed industrial strategy, infrastructure proposals, and ‘green’ economic growth.

“A stable and clear policy environment with realistic timetables and as much consistency as possible across all devolved nations will be key to allowing the waste sector to invest and innovate.”