Businesses are reportedly feeling anxious ahead of the Labour Party Conference, which begins on Sunday, and the Budget, which is one month away. Top executives and lobbyists are expected to attend the conference in Liverpool, where a Business Day is scheduled for Monday.
Many businesses are seeking to engage with Prime Minister Andy Burnham and Chancellor John Healey. A senior retail source indicated that the sector has had "basically no engagement" with Healey since his appointment in July. Retailers are particularly keen to avert further tax increases, having already experienced rises in business rates and national insurance contributions.
While some gestures, such as a pledge to cut pubs' business rates by 20 per cent, have been made, there remains frustration across the hospitality sector regarding ongoing cost pressures, including employment costs, taxation, and business rates. Small businesses also hope to convince Labour that they can contribute to Burnham's high street ambitions.
Investors are reportedly more nervous, with speculation over bank taxes unnerving the City. An investment source noted a lack of engagement with Healey and concern over communication regarding retail investment.