Business

Jeremy Corbyn isnt fooling anyone with his pro-business act

Does the Prime Minister agree with Boris Johnsons alleged “f**k business” viewpoint?

That was a question at PMQs yesterday – and a valid one, given the growing objections from the business community that their concerns are not being listened to by the government.

But it is startling to see this defence of corporate interests being launched from the most unlikely source: Jeremy Corbyn.

Read more: Bank of England criticises EU for lack of movement on Brexit risks

The Labour leader has spent his 35-year parliamentary career as an anti-business crusader. But to limit ourselves to the more recent period of his party leadership, flagship proposals have included: nationalising key areas of the economy without compensation, imposing a maximum wage, a dramatic hike in corporation tax, not to mention frequent anti-business diatribes about “rigged systems” and “the elite”.

Corbyn has branded the financial services sector “pernicious”, “destructive”, and “undemocratic”. His shadow chancellor has called business “the enemy” and gleefully detailed his partys plans for capital flight and a run on the pound. Both have talked about replacing capitalism altogether.

It is therefore bizarre to see Corbyn pretending that, now the Tory party is on the rocks with businesses, he is suddenly their saviour. Even in the face of the Conservatives self-inflicted wounds, positioning himself as the moderate, pro-business grown-up in the room smacks of hypocrisy and opportunism – a far cry from the “authentic” politics he supposedly represents.

Business groups are understandably feeling frustrated and let down by the slow progress of Brexit and the apparent antipathy of some ministers (notably the foreign secretary) to the challenges they face. But it is a mistake to think that Corbyns stance is any more sympathetic or less uncertain.

In the past three days alone, Labour has prevaricated and botched two votes of crucial importance to UK plc: a third runway at Heathrow, and the Canada-EU trade deal (Ceta). In both cases, Labours position was patently unclear. Having previously backed Heathrow expansion, official Labour policy suddenly changed to opposing it, while its MPs were offered a free vote. On Ceta – a trade deal which looks remarkably similar to the kind Labour has said it wants with the EU – MPs were ordered to abstain.

We cant blame a politician for playing politics, but our credulity only stretches so far.

This recent interest in standing up for the business community isnt fooling anyone, and we should be under no illusions – if ever elected, Corbyn would do to business exactly what Boris suggested.

Read more: Boris Johnson stands by 'f*** business' comments

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CityAM

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