'Culture shift' needed in how UK does business, PM urges
UK Prime Minister Andy Burnham has called for a cultural shift in business practices, emphasizing the need for government support for risk-taking entrepreneurs and greater autonomy for local leaders. This announcement precedes a high-profile meeting at Downing Street with the chief executives of major British corporations to discuss strategies for attracting investment and creating jobs. The initiative comes amid economic challenges, including rising government borrowing costs, high energy prices, and political debates over the impact of recent tax changes on business growth.
- ▪Prime Minister Andy Burnham stated that the UK requires a culture shift where government and local leaders actively support business risk-taking.
- ▪Burnham is scheduled to meet with the CEOs of major companies such as BP, Shell, HSBC, and Rolls-Royce at Downing Street to discuss growth and investment.
- ▪The UK government is currently facing high borrowing costs, with 10-year bond yields exceeding those of the US, France, and Japan due to concerns over investor confidence.
- ▪Recent economic data showed a surprise boost in July driven by AI investment, though experts warn that high energy prices and potential interest rate hikes may slow future growth.
- ▪Opposition politicians have criticized the Labour government for increasing business costs through higher employer national insurance and minimum wage changes.
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| Original publisher | BBC News — UK |
| Canonical URL | https://www.bbc.co.uk/news/articles/clyl18x4734o?at_medium=RSS&at_campaign=rss |
| Publication time | Sun, 13 Sep 2026 21:30:21 GMT |
| Retrieval time | 2026-09-13T21:41:50.511Z |
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'Culture shift' needed in how UK does business, PM urgesImage source, Getty ImagesByMitchell LabiakBusiness reporterPublished10 minutes agoThe UK needs a "culture shift" in how it does business, Andy Burnham has said ahead of a meeting with some of the UK's biggest bosses.The prime minister said those who take risks in business should be backed by government and local leaders should have the power to work with businesses.The current Labour government has been criticised for increasing costs for businesses, such as with the employer national insurance and minimum wage changes under Burnham's predecessor Sir Keir Starmer.Downing Street said Burnham will meet with the chief executives of BP, Shell, HSBC, Morrisons, Sainsbury's, BT, Vodafone, Rolls-Royce, and several others at Number 10.Ahead…
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