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Over 100 business leaders warn Labour govt would risk recovery

by: Carmen Reichman
  • 01/04/2015
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More than 100 UK business leaders have backed Conservative economic policies, saying they show the 'UK is open for business' and have helped create jobs.

In an open letter sent to the Telegraph, business leaders warned a Labour government would ‘threaten jobs and deter investment’ in the UK.

They praised the Conservatives’ decision to cut to corporation tax to 20% and warned a ‘change in course’ would ‘put the recovery at risk’.

Labour has said it will reverse the cut should it gain power following the 7 May general election.

The letter was signed by senior executives from nine FTSE 100 companies, 21 FTSE 250 companies, and from small and medium-sized businesses.

Signatories included Prudential chief executive Tidjane Thiam, Bloomberg chairman Peter Grauer and former Labour backer Duncan Bannatyne.

The letter nods to strong employment data and said that Britain grew faster than ‘any other major economy’ last year. The UK’s 2014 GDP growth was in excess of G7 peers but remained below those reported by the likes of China, the world’s second largest economy.

The letter read:

Dear Sirs,

We run some of the leading businesses in the UK. We believe this Conservative-led government has been good for business and has pursued policies which have supported investment and job creation.

David Cameron and George Osborne’s flagship policy of progressively lowering Corporation Tax to 20% has been very important in showing the UK is open for business. It has been a key part of their economic plan.

The result is that Britain grew faster than any other major economy last year and businesses like ours have created over 1.85m new jobs.

We believe a change in course will threaten jobs and deter investment. This would send a negative message about Britain and put the recovery at risk.



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