A new survey from Lloyd’s Bank British Business Excellence Awards issued ahead of the UK General Election announcement has revealed that 40.2% of UK business owners will be voting for Labour in this year’s poll.
The Liberal Democrats (28.7%) are similarly outpolling the Conservatives (26.7%), according to the survey of 1000 business owners with a turnover of between £500k and £6m.
However, when asked who they thought would do a better job for British businesses, Rishi Sunak was seen as the most favourable (40.2%); Sir Kier Starmer receiving 32.1% of votes and Ed Davey 8.9%. But, almost one fifth of UK business owners (18.8%) didn’t feel any of the three main candidates would do a particularly good job.
“It’s evident that the Conservatives face an intimidating challenge in retaining power,” says Sarah Austin, Director of BBEA’s adding:
“Labour is clearly the favourite party among business owners, but that’s no doubt largely due to Conservative Party fatigue and not the leadership of Rishi Sunak. It’s clear that business owners see Rishi as a steady hand as he ironically received the most votes.”
Meanwhile, when asked which policy change would help their business the most, business owners said: Reversing Brexit (38.8%); Reducing VAT (22.4%) and Cutting Corporation Tax (22%).
According to Austin: “All we can do is hope that the new Prime Minister will take steps to ensure a successful future for British business – as we all know, the likelihood of a Brexit reversal is slim to none, so we must look forward to a way of supporting and celebrating British business.”
