Jeremy Corbyn at the Government sparks real concern among businesses
The Director-General of the British Chambers of Commerce, Adam Marshall, told Bloomberg there is a real concern about a change of direction in Government and Jeremy Corbyn's manifesto. Although he recognised some of the Labour manifesto’s key points to be favourable to businesses, he said Jeremy Corbyn’s proposals of nationalisations and tax rises cause real worry. He said: “Businesses are always wary of a potential change of direction in Government whatever the political party in power and whatever the opposition is of the day because that means they have to change their plans and adjust their way of doing business.”
BLOOMBERG•GETTY 'Businesses have real concerns over a Labour Government', says BCC's Adam Marshall
Things like nationalisations, heavy regulations and massive tax rises cause a lot of businesses some disquiet Adam Marshall
When asked about a scenario which sees Jeremy Corbyn as Prime Minister he said: “Businesses say they agree with some of the things they hear coming from the Labour party. “An emphasis on skills and upskilling the population, that’s popular no matter which side of the political divide you’re on. “An emphasis on fixing the UK creaking infrastructure, another thing where there’s broad agreement that we need to do more.”
However, he warned businesses are concerned about the core policy proposed by the Labour party. He said: “There is very real concern though about proposals around things like nationalisations, around very heavy regulations of sectors that have had a much more balanced approach up until now, and of course massive tax rises both on individuals and on corporations. “Those are things that cause a lot of businesses some disquiet, so it’s a mixed bag.”
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