Andy Burnham to host entrepreneurs and local mayors at No 10 on Monday
Summary
Prime Minister Andy Burnham will host business leaders, entrepreneurs, and local mayors at Downing Street to promote his government as a supporter of business growth in the UK. He emphasized reindustrializing Britain by supporting those who create jobs and innovate, while Chancellor John Healey prepares for a challenging budget focused on economic growth and managing public spending.Key Facts
- Andy Burnham will hold meetings with entrepreneurs and mayors at No 10 Downing Street on Monday.
- The event aims to present the government as a partner for business growth and investment.
- Participants include leaders from companies like Octopus Energy, Revolut, HSBC, BP, Rolls-Royce, and others.
- Burnham wants to “reindustrialize” Britain by making it easier to start and grow businesses and rewarding ambition.
- Chancellor John Healey faces challenges with rising borrowing costs and economic uncertainty from global issues like the Iran war.
- UK economy grew by 0.4% in July, helped by AI and cloud computing, but growth may be slowing due to higher energy costs.
- Labour’s fiscal rules require that government spending be covered by taxes, with no increase in income tax, national insurance, or VAT planned.
- Healey plans to give more power and resources to local leaders and use public investment to attract private money.
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