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5th July 2024

Labour wins general election

The Labour party has won the 2024 general election and will form the next government.

Paul Butterworth, CEO at Chambers Wales South East, South West and Mid, said:

“Congratulations to the Labour party on their victory after a long and hard-fought campaign and to the newly elected MPs across all parties.

“The public have delivered them a clear and decisive parliamentary majority – hopefully they will use this mandate to provide the stability and certainty that businesses in Wales crave. How we revitalise our economy was hotly debated throughout the past six weeks, and it is encouraging to see they have many policies which clearly align with our and the British Chamber of Commerce’s recommendations.

“Closing the skills gap, growing exports, boosting productivity and harnessing the power of digital innovation won’t happen overnight and our hope is that with a joined-up Westminster and Senedd in Cardiff we will see a better working relationship, real-time progress and some united policy thinking to develop the Welsh economy on which businesses can base their investment plans and growth strategies.

“It is essential that policymakers listen to business concerns and that Labour hits the ground running with meaningful action for businesses to finally crack low productivity, put Welsh business on a trajectory to a higher growth future, refocus on fast tracking existing projects here in Wales and invest in skills and infrastructure. Businesses will also want to see early movement on pledges around business rates reform and improving our trade relationship with the EU and furthering other trade agreements.

“None of this will be easy, and our new government should not be expected to do it alone. If business is to succeed, then our local communities prosper, the national economy grows, and the wealth is created to support our public services improvements. We look forward to working with both the Welsh and UK governments to achieve this.”

Director General of the BCC, Shevaun Haviland, said:

“Congratulations to the Labour Party on their victory after a long and hard-fought campaign.

“The public have delivered them a clear and decisive parliamentary majority – hopefully they will use this mandate to provide the stability and certainty businesses crave.

“How we revitalise our economy was hotly debated throughout the past six weeks, and it is encouraging to see they have many policies which clearly align with our recommendations.

“But after a gruelling election the really hard work starts now. We need to see action from day one on pulling together a coherent industrial strategy for the long-term, which places a strong emphasis on harnessing green innovation.

“Closing the skills gap, growing exports, boosting productivity and harnessing the power of AI won’t happen overnight.

“And businesses will also want to see early movement on pledges around business rates reform and improving our trade relationship with the EU.

“None of this will be easy, and our new Government should not be expected to do it alone. But our entire Chamber Network and the 51,000 businesses it represents will be ready to put their shoulders to the wheel and help.

“If our firms succeed, then our communities prosper, the economy grows, and the wealth needed to support our public services is created.”

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