Rachel Reeves has received a blunt wake-up call from former economic secretary Andrew Griffith and former minister for investment Dominic Johnson ahead of the Autumn Statement. They’ve slammed Labour for “talking down” the economy, which has scared off investors, with business investment plummeting from +24 in July to -6, the steepest drop since the pandemic. As they astutely put it: “no one buys shares in a company whose CEO and CFO do nothing but whine.”

Griffith and Johnson also pushed Labour to embrace the post-Brexit landscape, championing the benefits of the CPTPP and the UK’s strategic role amid the swirling uncertainties in Europe and the US. Despite Starmer’s flirtations with the EU, Labour should be “selling” the fact the UK has the power to craft its own laws and trade agreements…

The duo issues a stark warning against Labour’s tax-the-rich agenda, particularly their plans targeting non-doms, as Treasury briefings suggest such measures could end up costing the Exchequer more than they bring in. Instead, they encourage Labour to leverage its connections within the unions and public sector to champion reforms in pensions, urban development, driverless transport, and NHS data sharing. Policies the Tories weren’t able to implement…

Finally they suggest it might be time for Labour to sideline “Red Ed“. The pair point out that Labour’s green policies are pushing up energy costs for manufacturers and driving away investment. With £8 billion already pumped into GB Energy to keep him “busy”, Miliband would be better occupied with offshore wind projects instead…

Labour would be wise to heed the advice of these Tory investment supremos…