The Prime Minister claimed during the British Chambers of Commerce conference on Thursday that he has “stabilised the economy,” which is utter “nonsense” as one in six businesses are running out of money.
Sir Keir Starmer claims the government is backing businesses “to the hilt,” but company leaders and economists are revealing the real truth.
The Chancellor’s continued tax increases and the employer’s national insurance hikes has put businesses under increased pressure and Labour is facing growing criticism.
Pimlico Plumbers founder Charlie Mullins blasted Starmer for having a “brass neck” to stand up at the BCC conference telling them he is on their side despite the government having “battered businesses.”
Mullins said, “I can’t believe Starmer has the brass neck to stand in front of hundreds of struggling business owners and tell them he’s on their side.
It’s only been a year and Labour’s vicious NI hike and tax increases aimed at wealth creators have battered businesses.
Starmer has been promoting his trade deals with the US and India, however Karl Mason, spokesman for the UK Spirits Alliance said his trade deal claims is “nonsense narrative and “the punishing tax burden we face at home makes it virtually impossible to invest in export growth.
Without reform to our domestic tax regime, talk of trade deals is meaningless.
The Office for National Statistics (ONS) rubbished Starmer’s claims also, warning that 17% of businesses have run out of money.
The Bank of England governor, Andrew Bailey warned at the conference that businesses across the UK are cutting jobs and salaries as a result of the Chancellor’s employers national insurance hike.
Julian Jessop, economics fellow at the Institute of Economic Affairs said that under Labour “very little has changed for the better.
Underlying economic growth remains sluggish, inflation is picking up again, the labour market is deteriorating, interest rates have fallen more slowly than elsewhere, and the public finances are as fragile as ever.
Jessop added that “businesses are struggling under the weight of high energy prices and additional payroll costs, and many are nervous about the extra burdens that will be imposed by the Employment Rights Bill. Other than that, it is all going swimmingly.”
