Labour has won the backing of 120 business executives, in an apparent endorsement of the party’s strategy of wooing the City of London and its promise to restore “stability” to the UK economy if it wins the election.
Shadow chancellor Rachel Reeves is expected to use a speech on Tuesday to say Labour has changed for good and will be a “pro-business, pro-worker” party should it secure victory in the poll on July 4.
Ahead of the speech, 120 business chiefs wrote a letter to The Times endorsing Labour and criticising the Conservatives’ handling of the economy, which they said had been “beset by instability, stagnation and a lack of long-term focus”.
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