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a lot has happened since Labour won the
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public backing of over 120 business
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Chiefs in a letter just ahead of the
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general election when it landed in
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newspapers in late May that letter
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seemed to Signal a tectonic shift in
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British politics one in which the
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private sector had been won over by Kier
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starm and Rachel Reeves more stable and
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ostensibly more Pro business pitch labor
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has shown it has changed and wants to
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work with business to achieve the UK's
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full economic potential the letter read
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it had been written by the labor party
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and signed by 121 business Chiefs in a
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show of support for K stama and his
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party while it seemed a watershed moment
0:42
in British politics a look at
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signatories in the days after its
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publication did begin to raise questions
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over just how significant this vote of
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confidence was no serving footsy 350
0:53
bosses had added their names to the
0:55
letter what more some were existing
0:57
labor members some were retired the word
0:59
former did appear a lot now with full
1:02
clarity over Labour's fiscal plans and a
1:04
budget in the rear viw mirror the
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enthusiasm of those Executives does
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appear to have dimmed somewhat CM tried
1:11
to track them all down over the past
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week to hear what they were thinking
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some seven months after they backed the
1:16
party we contacted 120 signatories of
1:20
the letter over the past week and just
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28 of the original backers appeared
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willing to reiterate their support for
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labor on the record three declined to
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comment when asked if they still
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remained supportive of the government
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and several were Keen to stress that
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they signed in a purely personal
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capacity just under 1990 failed to
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respond to multiple requests for comment
1:40
and representatives of two signatories
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said they were currently uncontable
1:45
perhaps most wiring Le F but one
1:47
prominent signatory told CCM they felt
1:49
they had been duped after facing
1:51
pressure from party officials to sign
1:53
the letter the executive asked to remain
1:55
anonymous saying we were lied to of
1:58
those who stood by their decision to
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endorse labor several said they are
2:01
concerned over the direction of the
2:03
government and the series of punishing
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tax Rises laid out of that budget at the
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end of October a former Tory counselor
2:10
said they were listening to Business
2:12
Leaders Nick lawrens who was formerly a
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Tory counselor and now runs shrew based
2:17
tool seller 7 Diamond told us they
2:20
really wanted businesses to be on board
2:22
and they they were listening to what we
2:24
had to say but since the budget date
2:26
they're not listening celebrity chef and
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famed restaurant Tom Carriage who put
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his name to that endorsement mayate
2:32
didn't mince his words over Labour's
2:34
plans last week either he said they
2:36
would have a catastrophic effect on the
2:39
hospitality industry next year meanwhile
2:41
William reev the founder of love film
2:43
who now runs property startup good Lord
2:46
stood by his decision to sign that
2:48
letter but added that Rachel Reeves
2:49
fiscal plans did the opposite of what
2:51
was previously suggested and had come
2:54
down hard on working people other
2:56
heavyweight backers of the party who
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didn't sign that letter in in particular
3:00
have also now sounded the alarm over the
3:03
direction of travel since Labour's
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Victory slasher Lord the mancunian
3:07
entrepreneur and adviser to Andy Burnham
3:09
told C budget measures introduced in
3:12
October have not lived up to
3:14
expectations the vague justification of
3:17
filling the black hole is simply not
3:19
good enough considering the anxiety
3:22
turmoil and frankly near collapse of
3:24
businesses that hardworking people have
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spent their lifetimes building several
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of the companies contacted by CM said
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the party retained their support While
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others said they would prefer to give
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the government more time before casting
3:37
a verdict the government spokesperson
3:39
told CM the government was determined to
3:42
go for growth and work in partnership
3:44
with businesses to invest in Britain's
3:46
future while companies across the
3:48
country continue to absorb to digest the
3:51
consequences of Labor's first budget in
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14 years it seems unlikely now that this
3:57
new government would be able to convince
3:59
all of their business backers to sign a
4:02
similar letter today it feels like quite
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a change of Fortune just 5 months on
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from an election for the full story and
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to read what more of those signatures
4:10
had to say head to cm.com and hit
