The day after attending the Labour’s first International Investment Summit, business leader, philanthropist and Phones 4U founder John Caudwell joined Darren McCaffrey on Sky News’ Business Live to discuss why the day was so successful.
At the event attended by 300 of the world’s leading CEOs, the Government announced a record-breaking £63 billion worth of inward investment.
Caudwell initially responded to rumours that, in the Budget on 30 October, Chancellor Rachel Reeves may raise employers’ National Insurance contributions. Does Caudwell view that as a “jobs tax”?
“I do. Of course it’s a jobs tax. But is it overly worrying? That depends on what the overall package of measures is. What’s really positive about this Labour government, and I’ve never seen this before in all my history, is such an absolute, dedicated passion for growth and a dedicated passion for the environment.
“Labour have pledged this vociferously to the whole world. If they don’t achieve it, then they’re going to be a really huge failure. And Britain will fail. But I have every confidence the way that they’re going is going to actually succeed.”
After a lifetime of voting Conservative, and donating £500,000 to the Tories at the 2019 election, Caudwell publicly backed Labour for the first time at this year’s General Election.
