JEREMY Corbyns radical election agenda would crack the foundations of our economy, business chiefs warned yesterday.
The withering assessment from the Confederation of British Industry (CBI) came as it emerged Labour is planning to announce a windfall tax on the profits of oil companies, which risks spiking petrol and diesel prices for motorists.
Party chiefs did not deny reports the move will form part of Labours hard-left manifesto when it is unveiled on Thursday.
CBI chief Dame Carolyn Fairbairn warned that Labours Marxist plans for mass nationalisation would freeze investment in the UK.
She told Sky News Ridge on Sunday show that Labours pledge to nationalise BT and introduce free broadband were a bolt from the blue and said it had sent a shiver down the spine of the business community as a whole as companies across different sectors were bracing themselves to face nationalisation too.
She revealed: I have talked to businesses who are already sitting there thinking ‘maybe we’re next’.
MARXIST MANIFESTO
Dame Carolyn, speaking ahead of Mr Corbyns speech to her organisation at the CBIs annual conference in London, pleaded with him to work out different answers to the countrys problems. She blasted: This programme that is appearing to value none of the contribution that business makes will simply shut investment out of our country.”
But in a chilling remark on Sunday Mr Corbyn stubbornly claimed his nationalisation agenda was very, very modest.
And his close ally and Labours biggest union backer Red Len McCluskey – a major player in deciding the partys manifesto – refused to rule out Thursdays publication of its manifesto going even further.
In another threat to business the Unite union chief told BBC Radio 5 Live that the value of private assets seized through Labours mass nationalisation project will be decided by Parliament and not market forces.
Mr McCluskey also said student debt would be lifted off our youth – but it was unclear whether he meant that would also apply to money owed by graduates.
Laying bare the threat Labour poses to businesses in the UK, Dame Carolyn told Sky News: We really understand the questions that Labour are asking.
“They are asking questions about inequality, they are asking questions about public services. These are the right ones.
“But we look at the policies on the table and we have real concerns that they are going to crack the foundations of our economy.”
