Labour will take a different approach to business. One which recognises good business and supports small companies with greater, more strategic investment in our economy. In line with Labour’s fairer vision for society, Shadow Chancellor John McDonnell set out how business and government can work together to generate and share prosperity.
A Labour government would support businesses by investing for the long term, not just for the short term. That means building the high tech, high wage economy of the future. Investing in better infrastructure. Solving the housing crisis. Investing in skills and training. Creating a more diverse market for finance, which would include regional and local banks with a public service mandate.
Underpinning all of this would be institutions that are on the side of our real wealth creators. Businesses that create decent jobs, owners that pay their taxes, and that bring a social value to their communities.
That’s why John McDonnell announced Labour would introduce a “Good Business” kitemark scheme, which businesses can sign up to so they can demonstrate their commitment to society. Those businesses who pay their taxes transparently and properly, and who pay their employees at least the living wage, deserve proper, public recognition. Under a Labour Government, we will make sure this scheme does exactly that. Under a Labour Government we will make sure good businesses prosper for all.