Burnham pledges to back British business ideas – Daily Business

Rolls-Royce small modular reactorRolls-Royce small modular reactor
Rolls-Royce has been pushing its small modular reactors to modernise the nuclear sector

Andy Burnham has pledged to back those with a “great idea” as part of a culture shift towards growing businesses.

Ahead of a meeting with business leaders in Downing Street, the Prime Minister said those who take risks should be supported by government.

The chief executives of BP, BT, HSBC, Morrisons, Rolls-Royce, Sainsbury’s, Shell and Vodafone will be among the senior business leaders who will press for a change of tone from the Labour government.

In its first few months it increased costs on business through hikes in employer national insurance contributions and minimum wage changes, as well as imposing new regulatory burdens.

In a briefing before today’s meeting, Mr Burnham said he would give people “the confidence that if they have a great idea, they’ll get all the support they need to bring it to life”.

He added: “When local leaders have the tools to get things done and government works in partnership with business, you can pull in investment, create jobs and transform communities.”

He said the government would be “a partner for growth to make every part of Britain better off”.

His comments come as hospitality leaders have written to him calling for a cut in VAT, though there was also some better news on the economy on Friday when new data showed a surprise increase in GDP.

However, there is a desire for a new approach to business that will enable it to tackle long-term anaeminc growth and capitalise on developments in technology and renewable energy.

Separately, Mr Burnham has delayed a decision to approve the Jackdaw gas field off the Aberdeen coast which the industry is demanding in order to help with supplies and the energy transition.

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