Regional REIT chair among business leaders backing Labour

Regional REIT chairman Kevin McGrath is among the 121 business leaders who have signed a letter backing the Labour Party ahead of the general election. In the letter, published in The Times, the executives said they believed it is “time for a change” to help the UK reach its economic potential.  Other signatories were Iceland founder Malcolm Walker, television chef Tom Kerridge, JD Sports chairman Andrew Higginson and former JP Morgan Cazenove vice-chairman Charles Harman. Supporters also included former Heathrow Airport chief executive John Holland-Kaye, Unity Trust Bank chairman Alan Hughes and Alexandra Depledge, founder and chief executive of residential architectural platform Resi. The letter says: “The UK has the potential to be one of the strongest economies in the world. A lack of political stability and the absence of consistent economic strategy have held it back. The country has been denied the skills and infrastructure it needs to flourish. “We are looking for a government that will partner fiscal discipline with a long-term growth strategy, working in partnership with the private sector to drive innovation and investment to build digital and physical capital and fix our skills system. This is the only way to put us on track for sustained productivity growth.” It adds: “We are in urgent need of a new outlook to break free from the stagnation of the past decade, and we hope by taking this public stand we might persuade others of that need too.” The news comes as shadow chancellor Rachel Reeves (pictured) set out her stall for a “pro-worker and pro-business” government in a speech to business leaders at Rolls-Royce’s premises in Derby earlier this afternoon. Photo © Tayfun Salci/ZUMA Press Wire/Shutterstock