Be afraid, Tories – even the Davos elite now fancies a bit of Corbynism | Richard Power Sayeed
John McDonnell was a guest speaker because, unlike his rivals, he has a plan for ending the global economy’s structural woes
The UK’s business leaders are not, on the whole, committed Corbynites, but last autumn their political centre of gravity started to shift. At the CBI’s annual conference in November, the warmest applause went not to Theresa May but to her rival on the opposition benches. After the Labour leader’s speech, the measured reaction of one captain of industry – “These are great aims. But how will they be paid for?” – reflected the perhaps surprisingly pragmatic response of British business to the prospect of a socialist government.
Few corporations are keen on taxes or regulation, but all will welcome the state investing £250bn in infrastructure and research and development, as well as billions more on education. They are also grateful that Labour has maintained its position as the party of soft Brexit.
