The Labour Party has launched a review to make sure Britain is the “best place in the world to start and grow a business”, but UKBF members remain sceptical.
Labour’s Shadow Chancellor Rachel Reeves told The Times’ CEO Summit in London last week that her party wants to ensure that start-ups in the UK can reach their full potential in one of the most innovative countries in the world.
The review will look at issues such as access to patient capital, the incentives for growing businesses in the UK, the role of universities, and how to boost diversity among British founders and entrepreneurs.
Rachel Reeves MP said: “Something I have heard repeatedly from businesspeople is a real worry about the small number of start-ups listing in the UK and the stubborn obstacles preventing many of them from scaling up.
“Labour’s mission is to build an institutional ecosystem offering the market the access, finance, and skills that new and growing businesses need.”
However, UKBF members have been largely sceptical about the announcement on the Can Labour make Britain the best place in the world to start and grow a business? thread.
@Mark T Jones posted on the thread: “Fine rhetoric, bereft of context or substance.”
@Fagin2021 posted: “Anytime a politician talks about making Britain a 'world-class' or ‘world-beating’, just remember this quote from Yes Prime Minister, ‘We have a system of government with the engine of a lawn-mower and the brakes of a Rolls-Royce’... and lower your expectations, if you had any.”
@BigDreamer posted: “They should find a solution to the truly extortionate costs of renting business premises. I have an uncle who lives one hour from Paris where his cost of warehousing is €2,500 per month for around 10,000 square feet.
“Here in the UK, anywhere within two hours of London, you would be lucky to find anything at triple or quadruple that price for the same size, not even including rates”
The panel leading the review includes:
“Labour will match the ambition and drive of our visionary entrepreneurs to build the businesses of the future and get our economy firing on all cylinders.”
Labour’s Shadow Chancellor Rachel Reeves told The Times’ CEO Summit in London last week that her party wants to ensure that start-ups in the UK can reach their full potential in one of the most innovative countries in the world.
The review will look at issues such as access to patient capital, the incentives for growing businesses in the UK, the role of universities, and how to boost diversity among British founders and entrepreneurs.
Rachel Reeves MP said: “Something I have heard repeatedly from businesspeople is a real worry about the small number of start-ups listing in the UK and the stubborn obstacles preventing many of them from scaling up.
“Labour’s mission is to build an institutional ecosystem offering the market the access, finance, and skills that new and growing businesses need.”
However, UKBF members have been largely sceptical about the announcement on the Can Labour make Britain the best place in the world to start and grow a business? thread.
@Mark T Jones posted on the thread: “Fine rhetoric, bereft of context or substance.”
@Fagin2021 posted: “Anytime a politician talks about making Britain a 'world-class' or ‘world-beating’, just remember this quote from Yes Prime Minister, ‘We have a system of government with the engine of a lawn-mower and the brakes of a Rolls-Royce’... and lower your expectations, if you had any.”
@BigDreamer posted: “They should find a solution to the truly extortionate costs of renting business premises. I have an uncle who lives one hour from Paris where his cost of warehousing is €2,500 per month for around 10,000 square feet.
“Here in the UK, anywhere within two hours of London, you would be lucky to find anything at triple or quadruple that price for the same size, not even including rates”
The panel leading the review includes:
- Former Treasury minister and founder of Northern Gritstone
- Lord Jim O’Neill
- The CEO of Resi, Alex Depledge
- The director of Entrepreneurship Institute at King's College London, Julie Devonshire
- Co-founder of Extend Ventures, Tom Adeyoola.
“Labour will match the ambition and drive of our visionary entrepreneurs to build the businesses of the future and get our economy firing on all cylinders.”
