UK business turns focus to Labour

THIS week provides a further signal that UK politics is in the midst of a potentially big change cycle. The Labour Party is holding its annual conference in the northern English city of Liverpool, amid record levels of business interest in the party.

It is reported that over 300 chief executives and chairs of big UK companies are attending the conference, more than did so during the entire first term of Tony Blair’s Labour prime ministership from 1997 to 2001. Moreover, business sponsorship of the event has more than doubled since last year.

This business interest highlights, yet again, the growing expectation that Labour will win the next general election after almost a decade and a half out of power. The latest indication that the UK political cycle is turning came last Thursday (Oct 5), with the Rutherglen and Hamilton West by-election in Scotland.