Umunna calls for new partnership between government and business

Labour's Shadow Business Secretary Chuka Umunna has been making his first major speech since being appointed to the position.

Speaking at the London headquarters of Bloomberg he gave the audience Labour’s vision of a transformed economy, producing better and fairer outcomes and ensuring that Britain takes full advantage of opportunities in the world economy.

He called for a new partnership between government and business, removing the barriers to firms pursuing long term, productive and sustainable strategies with a role for active, intelligent government in framing the rules of the game so that business which is most productive and most socially valuable is also most profitable.

Chuka Umunna, said:

"The Government is out of touch with British business and is making the wrong choices for the economy in the short term as well as the wrong choices in the long term for Britain’s future. It is failing to use the tools at its disposal to reward the best of British business practice and has instead rigged the system against firms investing in the long term."