Andy Burnham to host entrepreneurs and local mayors at No 10 on Monday
Andy Burnham will host business leaders, entrepreneurs and regional mayors at Downing Street on Monday, part of a push to present his government as a "partner for growth" ahead of the first budget of his premiership. The prime minister said the UK has the talent and universities to succeed but needs "a culture shift in how Britain does business", pledging to "reindustrialise Britain" through closer cooperation with the private sector.
The event includes a roundtable with entrepreneurs from firms such as Octopus Energy, Revolut, Starling Bank and Oxford Quantum Circuits, followed by a reception with chief executives from major companies including HSBC, BP, Rolls-Royce and BAE Systems, alongside regional mayors. It comes as Burnham and Chancellor John Healey prepare for their budget on 28 October, amid rising borrowing costs, fallout from the Iran war and warnings from economists that higher energy costs could dampen growth and force further tax rises, even after unexpected 0.4% GDP growth in July.
In short
- Burnham hosts business chiefs and mayors at No 10 on Monday
- Aims to boost growth ahead of 28 October budget
- Economists warn rising costs may pressure Healey into tax rises
Steelman: both sides, in good faith
The strongest fair case each way — we don't pick a winner.
The case for
Closer cooperation between government, businesses and regional mayors could help turn the UK’s research and entrepreneurial talent into investment, jobs and renewed industrial capacity. Supporters may argue that regular engagement lets ministers identify barriers to growth and coordinate public policy with private sector plans, while giving regions a stronger role in shaping development.
The case against
Critics may argue that presenting business leaders as partners risks giving large firms privileged access to policy-making, while smaller businesses, workers and the public have less influence. They may also question whether meetings and pro-growth pledges can deliver sustained growth when borrowing costs and energy prices are high, and caution that industrial support should not shift costs or risks onto taxpayers without clear public benefits.
Explained simply
The prime minister and chancellor set out the government’s tax and spending plans in the budget, which can affect businesses, public services and household finances. Ministers also shape policy on skills, investment and industry, while companies decide where to invest and create jobs.
Andy Burnham is prime minister, and John Healey is chancellor. Regional mayors represent areas outside London and often work with national government on transport, jobs and local development; the companies attending range from newer financial and technology firms to large employers in energy, manufacturing and defence.
The government’s plans come amid higher borrowing costs and energy prices, which can make it more expensive to fund public spending and for businesses to operate. Economic growth, tax decisions and investment therefore matter to both the public finances and the prospects for jobs and industry.
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