Money Business groups react to Labour manifesto

20:14  16 may  2017
20:14  16 may  2017 Source:   Sky News

Corbyn misses campaign appearance amid fallout from leak of draft manifesto

  Corbyn misses campaign appearance amid fallout from leak of draft manifesto Joint elections co-ordinator Ian Lavery said his leader was dealing with “preparation work for what is a fantastic manifesto”.The 43-page document, which sets out plans to nationalise key industries and reverse years of austerity, was denounced by Tories as a recipe for taxes and borrowing which would put the UK on the “road to ruin”.

Business groups have expressed varying reactions to Labour 's manifesto while the plans have been welcomed by unions. The CBI said it "prioritises state intervention over enterprise" after the party said it would nationalise power networks, water suppliers, rail firms and Royal Mail.

Business groups have expressed varying reactions to Labour 's manifesto while the plans have been welcomed by unions. (c) Sky News 2017: Business reacts to Labour 's manifesto plans.

Jeremy Corbyn launches his manifesto © Getty Jeremy Corbyn launches his manifesto "for the many, not the few"

Business groups have expressed varying reactions to Labour's manifesto while the plans have been welcomed by unions.

The CBI said it "prioritises state intervention over enterprise" after the party said it would nationalise power networks, water suppliers, rail firms and Royal Mail.

CBI director-general Carolyn Fairbairn welcomed proposals on skills, infrastructure and apprenticeships, saying parts of the manifesto deserved "three cheers".

But she said too many - including the plans for public ownership and plans for the minimum wage and zero-hours contracts - were "far wide of the mark".

Corbyn misses campaign appearance amid fallout from leak of draft manifesto

  Corbyn misses campaign appearance amid fallout from leak of draft manifesto Joint elections co-ordinator Ian Lavery said his leader was dealing with “preparation work for what is a fantastic manifesto”.The 43-page document, which sets out plans to nationalise key industries and reverse years of austerity, was denounced by Tories as a recipe for taxes and borrowing which would put the UK on the “road to ruin”.

Labour has drawn up manifesto plans for a massive tax raid on the private sector Their draft manifesto - which was leaked - proposes large rises in business taxes But Labour 's manifesto threatens billions in business taxes and mountains of extra red tape.

Some of the UK’s pre-eminent business groups have criticised Labour ’s election manifesto , dismissing 43/54 8 May 2017. Britain's opposition Labour party Leader Jeremy Corbyn reacts as he meets with nursing students at the University of Worcester's Sheila Scott building in Worcester.

Related video: Corbyn: 'More tax for those with broadest shoulders'

What to watch next
  • 'Devil is in the detail' on workers' rights

    'Devil is in the detail' on workers' rights

    Sky News Logo
    Sky News
    0:21
  • How do the parties compare on health spending?

    How do the parties compare on health spending?

    Sky News Logo
    Sky News
    5:45
  • Theresa May confronted over disability benefit cuts

    Theresa May confronted over disability benefit cuts

    Sky News Logo
    Sky News
    0:43
  • Hunt gets on his bike to avoid cyber attack questions

    Hunt gets on his bike to avoid cyber attack questions

    Sky News Logo
    Sky News
    0:21
  • Theresa May confronted over disability benefit cuts

    Theresa May confronted over disability benefit cuts

    Sky News Logo
    Sky News
    0:40
  • Monday's showbiz

    Monday's showbiz

    Sky News Logo
    Sky News
    2:22
  • Cop overdoses after traffic stop drug exposure

    Cop overdoses after traffic stop drug exposure

    Sky News Logo
    Sky News
    0:31
  • Hunt gets on his bike to avoid cyber attack questions

    Hunt gets on his bike to avoid cyber attack questions

    Sky News Logo
    Sky News
    0:20
  • Shell-shocked tortoise slowly recovers from smuggling ordeal

    Shell-shocked tortoise slowly recovers from smuggling ordeal

    Sky News Logo
    Sky News
    0:35
  • Big wins for Happy Valley and Damilola at BAFTAs

    Big wins for Happy Valley and Damilola at BAFTAs

    Sky News Logo
    Sky News
    1:59
  • BAFTAs: Real-life drama steals the show

    BAFTAs: Real-life drama steals the show

    Sky News Logo
    Sky News
    2:54
  • China's grand plan to revive ancient Silk Road

    China's grand plan to revive ancient Silk Road

    Sky News Logo
    Sky News
    3:36
  • Pregnant patient finds NHS hacking 'scary'

    Pregnant patient finds NHS hacking 'scary'

    Sky News Logo
    Sky News
    1:29
  • Hacker tells Sky how he cracked NHS systems

    Hacker tells Sky how he cracked NHS systems

    Sky News Logo
    Sky News
    1:20
  • Train derails and smashes into house

    Train derails and smashes into house

    Sky News Logo
    Sky News
    0:15
  • Campaigner: '106% rise in incidents at schools'

    Campaigner: '106% rise in incidents at schools'

    Sky News Logo
    Sky News
    0:29
UP NEXT
UP NEXT

"Labour's proposals taken as a whole prioritise state intervention over enterprise, and fail to offer the pro-growth and competitiveness agenda the country so badly needs," said Ms Fairbairn.

Corbyn misses campaign appearance amid fallout from leak of draft manifesto

  Corbyn misses campaign appearance amid fallout from leak of draft manifesto Joint elections co-ordinator Ian Lavery said his leader was dealing with “preparation work for what is a fantastic manifesto”.The 43-page document, which sets out plans to nationalise key industries and reverse years of austerity, was denounced by Tories as a recipe for taxes and borrowing which would put the UK on the “road to ruin”.

The 2017 Labour manifesto simply represents the far left dancing on the grave of Blairism. A wage cap will be forced on businesses and vast powers will be handed back to the unions with a “ Labour Act”. Let’s do the time warp again!

Jeremy Corbyn's Labour manifesto was leaked to The Telegraph last night, and unsurprisingly it contains a selection of very left-wing policies. These include huge power to the unions as well as plans to nationalise energy, rail and mail and introduce a 20:1 pay cap for businesses .

Elsewhere there was a welcome from the Federation of Master Builders (FMB) for the party's housing goals.

A file picture of a builder © Getty A file picture of a builder

FMB chief executive Brian Berry said: "Labour's pledge to integrate housing and skills policy is the right approach to tackling two of the key challenges we face in the building industry.

"We are building too few homes in every part of the UK and this problem is exacerbated by the construction skills shortage."

Unions gave the manifesto the thumbs-up.

TUC general secretary Frances O'Grady said Labour's commitments to workers' rights and higher wages "would make a real difference to millions of workers".

She welcomed the "growing political consensus to address issues affecting working people".

Elsewhere, the British Retail Consortium (BRC) called the plans "a mixed bag", saying they included "flashes of vision and clarity" such as the aim of shaking up the business rates system.

Labour candidate Emily Owen hits out at ‘disgusting’ sexism

  Labour candidate Emily Owen hits out at ‘disgusting’ sexism Miss Owen is seeking election in Aberconwy.Video: Labour manifesto leak: What are Corbyn's plans? (Sky News)

Inevitably they react badly to what they see as bullying and bad behaviour. Labour 's manifesto is more Keynesian than Marxist. Labour manifesto 2017: what's changed since the leaked draft?

Up next. LABOUR MANIFESTO LEAKS: Owen Jones + Jo Tanner react (10May17) - Duration: 4:57. London Capital Group 43 views. New. 7:06.

BRC chief executive Helen Dickinson also said commitments on apprenticeships and skills would be positively received.

But she said increasing wages without considering wider economic conditions was "unsustainable".

Meanwhile, the Institute of Directors (IoD) expressed exasperation that politicians of all parties had made pledges "with seemingly little thought of the consequences".

IoD director general Stephen Martin said: "Some areas Labour have identified, such as the importance of a sensible immigration policy and investment in infrastructure, are clearly in the country's economic interests.

"But other policies, like banning zero hour contracts, or introducing pay ratios for companies with Government contracts, are worryingly knee-jerk reactions.

"Unfortunately, the election has turned into a bit of an arms race, where parties compete to out-promise each other."

Jeremy Corbyn Could Beat Theresa May If Only Under-50s Voted, Pollster Says .
Jeremy Corbyn Could Beat Theresa May If Only Under-50s Voted, Pollster SaysThe latest poll of polls puts Labour on 31%, 16 points behind the Tories who could win around 390 seats on June 8.

—   Share news in the SOC. Networks

Topical videos:

This is interesting!