From the Guardian · · 1m 30s
Burnham asks business to help reindustrialise Britain
A new prime minister brings founders, FTSE bosses and regional mayors into No 10 with a budget looming.
In brief
A new prime minister brings founders, FTSE bosses and regional mayors into No 10 with a budget looming. Burnham is betting on a business partnership to drive growth, but the 28 October budget will show whether the money matches the pitch. Originally reported by the Guardian.
A pitch from Downing Street
The prime minister is bringing business leaders, entrepreneurs and regional mayors into No 10 on Monday, selling the government as a stable place to invest and hire.
“partner for growth”
Talent yes, culture no
Burnham says Britain already has the people and the world-class universities. What it lacks, he argues, is the way it does business.
“a culture shift in how Britain does business”
Reward the risk-takers
His promise is to reindustrialise Britain by putting government behind founders, making companies easier to start and grow, and backing good ideas with real support.
“putting government firmly on the side of the people who take risks, start companies, create jobs”
Founders first, then the giants
A roundtable with the founders of Octopus Energy, Revolut, Starling and Oxford Quantum Circuits comes first. Then a reception for HSBC, BP, Shell, Rolls-Royce, BT and more.
A budget under pressure
Chancellor John Healey delivers his first budget on 28 October, with borrowing costs rising and the Iran war hitting the global economy. July growth of 0.4% may not hold.
Boxed in by his own rules
Labour has ruled out raising income tax, national insurance or VAT, and kept Reeves's fiscal rules. Economists warn weaker growth could force tax rises anyway.
“budget headache”
The key point
Burnham is betting on a business partnership to drive growth, but the 28 October budget will show whether the money matches the pitch.
