CBI says Labour manifesto risks 'putting our economy into reverse gear'

The Confederation of British Industry (CBI), the UK's largest industry organisation representing business, has harshly criticised Labour's manifesto. The organisation's director general, Josh Hardie, said that some of the plans in Labour's leaked manifesto 'risk putting our economy into reverse gear'. He also said:

 

If accurate, this is a manifesto that is past its sell-by date.

With the significant challenges our economy faces, the goal of making the UK the most competitive and fair economy in the world can only be achieved by a strongly pro-enterprise government.

A number of these policies risk putting our economy into reverse gear rather than moving forward to support business in creating an inclusive, innovative economy that works for people in all corners of the UK.

While proposals around apprenticeships and to increase spending on R&D to 3% should be welcomed, proposals to damage the UK’s flexible labour market and competitive markets will threaten jobs and prosperity.

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