Labour's Shadow Chancellor of the Exchequer Rachel Reeves gives a speech on the British economy ahead of the Bank of England monetary policy release on May 07, 2024 in London, England.
LONDON — More than 100 business leaders on Tuesday voiced their support for the U.K.'s center-left opposition Labour Party, nearly five weeks before the country heads to the polls.
The group, which includes Wikipedia founder Jimmy Wales and former vice-chairman of JP Morgan Cazenove Charles Harman, said in an open letter to The Times newspaper: "We, as leaders and investors in British business, believe it is time for a change."
The writers of the letter claim that the U.K. economy has suffered from a decade of stagnation amid a lack of both political stability and a long-term, consistent economic strategy.
The Labour Party has "shown it has changed and wants to work with business to achieve the UK's full economic potential," they said.
Persons:
Rachel Reeves, Jimmy Wales, JP Morgan, Charles Harman, Karen Blackett, Andrew Higginson
Organizations:
Bank of, Labour Party, The Times, WPP, JD Sports, British Retail, Tesco Bank, Heathrow Airport
Locations:
Bank of England, London, England