WIREDGOV

We have responded to John McDonnell's speech at the Labour Party Conference.

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Carolyn Fairbairn, CBI Director-General, said:

“The Shadow Chancellor’s vision of massive state intervention is the wrong plan at the wrong time. It raises a warning flag over the British economy at a critical time for our country’s future.  

“Business and politicians share a determination to create a fairer society in which everyone benefits. But the trickle of stalled investments caused by Brexit uncertainty could become a flood if these plans were to become reality. This would threaten the living standards of the very people that need help, from pensioners to students.

“Forced nationalisation of large parts of British industry will send investors running for the hills, and puts misplaced nostalgia ahead of progressive vision.  

“Where Labour has engaged with business – from Brexit and skills to infrastructure and innovation – solutions have been found to deliver an economy that is both more prosperous and fairer.

“The CBI looks forward to urgent discussion with the Labour leadership to find better solutions to the shared challenges we face.”