CBI response to Labour leader's speech at TUC Congress

Josh Hardie, CBI Deputy Director-General, said:

“The UK is facing a defining moment in its history. Only by working together can business and politicians shape an exciting and prosperous future.

“Yet these proposals, made in isolation from business, look set to turn back the clock decades. They fail to reflect the reality in workplaces around the country. The vast majority of firms thrive on strong employee engagement, invest in training and prioritise wellbeing. They support jobs, sustainable wage rises and enforcement of employment law. A fundamental re-write of regulation is the last thing the economy needs right now.

“Signalling widespread renationalisation wilfully ignores the many strengths that firms bring to the delivery of high-quality public services, including vital investment and innovation.

“At a time when the UK is already on the watchlist for international investors, these proposals will do further harm to our economy. We ask Labour to rethink and engage with business to restore confidence, or risk harming the very people they are seeking to help.”