Andy Burnham, now Prime Minister, is attempting to rebuild strained relations between the Labour government and the business community at the party's annual conference in Liverpool. A year earlier, Burnham had upset the City of London with remarks about Britain being too reliant on bond markets; now, the government is actively reassuring corporate leaders and bond traders during a period of regional geopolitical uncertainty. The Chancellor emphasised the government's commitment to supporting struggling firms whilst maintaining fiscal discipline, with executives praising his tone at private receptions.

However, significant unease persists amongst business leaders regarding the forthcoming 28 October budget, where further tax rises targeting employers are feared. Labour's credibility with corporate Britain has been damaged by previous tax increases, particularly the £40 billion in employer-focused levies announced in Rachel Reeves' first budget. Whilst attendance by top executives appears slightly reduced compared to previous years—with some joking about fewer "Davos on the Mersey" attendees—major corporations including HSBC, Mastercard and Heathrow continue substantial sponsorship, suggesting cautious engagement rather than wholesale withdrawal.