CBI responds to Shadow Chancellor's speech at Labour Party Conference

Rain Newton-Smith, CBI Chief Economist, said:  

“Labour’s confirmation of a pro-business approach to driving growth is good news.

“Business welcomes the ambitious plans from Labour on how green growth and business rate reforms can transform the economy.

“Firms are doing all they can to support their employees, but wage rises must be sustainable. The independent Low Pay Commission is best placed to judge the pace of future increases to the national living wage.

“Tackling the cost-of-living crisis requires a step change in productivity, and business is ready to play its full part in this partnership.”