Britain is “at the edge of a crisis” and Labour must “change tack” to revive the faltering economy, according to one of the country’s most respected business leaders.
Lord Stuart Rose, the former boss of Marks & Spencer and Asda, said “we should all be worried about the state of Britain” and called for “radical action” to restart growth and create jobs.
His stark warning came just a day after Sir Jim Ratcliffe’s Ineos revealed it had stopped investing in Britain altogether in protest at Labour’s tax hikes, diverting billions of pounds of capital to the US instead.
The criticism from two heavyweight figures piles pressure on Chancellor Rachel Reeves, who is already facing accusations that her £40bn programme of tax rises has derailed the economy.
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