UK’s Burnham Urges Business Culture Overhaul to Boost Investment

Andy Burnham has urged a fundamental “culture shift” in UK business practices, speaking ahead of a summit with leading corporate figures.

The prime minister stated that risk-taking businesses deserve government support and that local leaders should be empowered to collaborate with firms.

The Labour administration has faced criticism for raising business costs, including employer national insurance hikes and minimum wage adjustments implemented under former PM Sir Keir Starmer.

The gathering coincides with Chancellor John Healey’s preparation for his inaugural Budget next month, amid growing pressure on public finances from rising borrowing costs.

Downing Street confirmed Burnham will convene with CEOs of BP, Shell, HSBC, Morrisons, Sainsbury’s, BT, Vodafone, Rolls-Royce, and others at Number 10.

Prior to the meeting, Burnham pledged to provide “the confidence that any great idea will receive full support to become reality”.

He argued that when local leaders have the necessary tools and government partners with business, investment flows, jobs are created, and communities transform.

He added that the government would act as “a partner for growth to uplift every region of Britain”.

Burnham will host a reception for the business community, inviting local leaders, followed by a private meeting with senior executives at Downing Street on Monday evening.

The meeting occurs as higher borrowing costs in the UK and globally challenge governments seeking to fund business support or investment.

Separately, hundreds of hospitality businesses have written to the prime minister urging a VAT cut for the sector.

Over 800 pub, restaurant, and hotel owners, including celebrity chefs Heston Blumenthal and Tom Kerridge, signed a letter requesting the hospitality VAT rate be reduced from 20% to 10%.

When still Mayor of Greater Manchester, Burnham had said he would advocate aligning the tax with lower European rates.

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