The pound remains steady as businesses anticipate a "fresh start" under the new Labour government.
Waking up to a landslide victory for Labour in the UK's general election, Keir Starmer has committed to delivering change after his party ends Conservative rule. With Rishi Sunak's party facing its worst electoral performance and the pound holding firm against major currencies amidst expectations of continuity from financial markets, businesses express eagerness for new directions under Labour's leadership.
The London Chamber of Commerce welcomes the potential changes ahead:
"We look forward to working with government over the coming years," says Karim Fatehi, CEO of the chamber. "Now is the time for the new government to act quickly and implement necessary policies that will support business growth in all sectors."
The Confederation of British Industry (CBI) also shows readiness:
"Business stands ready to contribute with innovation, ideas, and investment," notes Rain Newton-Smith, CBI's chief executive. "It is crucial for the government to prioritize decisive action in key areas such as planning reform and infrastructure improvements."
TUC highlights Labour's opportunity:
"We stand prepared to work with this new administration to address critical issues," says TUC general secretary Paul Nowak, emphasizing the need for economic reforms.
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