Andy Burnham to Host Business Leaders and Mayors at No 10 to Promote UK Growth

LONDON: Prime Minister Andy Burnham will today host business leaders, entrepreneurs and local mayors at Downing Street as his government seeks to strengthen its pro-growth agenda and encourage greater investment and job creation across the United Kingdom.

The meeting is intended to demonstrate closer cooperation between the government, the private sector and regional authorities, with Burnham expected to emphasize the need for a change in business culture to unlock Britain’s economic potential. He has pledged to “reindustrialise Britain” through stronger public-private partnerships, support for entrepreneurship and measures designed to help businesses expand.

Senior executives from major companies, including HSBC, BP, BT and Rolls-Royce, are expected to attend alongside representatives of fast-growing businesses such as Octopus Energy and Oxford Quantum Circuits. Local mayors will also participate, reflecting Burnham’s efforts to transfer greater economic decision-making from Westminster to regional authorities.

The gathering comes ahead of Burnham and Chancellor John Healey’s first budget, scheduled for October 28, at a time when the UK economy is facing uncertainty, higher borrowing costs and the wider effects of global economic disruption linked to the conflict involving Iran.

The government has said it will maintain existing fiscal rules and Labour’s tax commitments while seeking measures capable of stimulating economic growth. However, economists have warned that weaker growth and increased debt-servicing costs could make the government’s fiscal choices increasingly difficult.

Burnham’s approach places economic growth, investment and regional development at the centre of his administration’s agenda, with Downing Street seeking closer engagement with business as it prepares for key economic decisions in the months ahead.