Sir Keir Starmer has told business chiefs the Government is “ripping out the red tape” to allow construction of warehouses, roads and power grid connections.
The Prime Minister hosted chief executives in Downing Street, telling them a partnership between the public and private sector was needed to “rebuild Britain together”.
Sir Keir, Chancellor Rachel Reeves and Business Secretary Jonathan Reynolds mingled with more than 150 leaders from firms ranging from small family-run businesses to FTSE 100 giants.
The Prime Minister was expected to tell them: “Economic stability will underpin everything we do.
“No more chopping and changing. We will create the conditions for success and stability you need, so you can pursue the growth and opportunities the country needs.
“We’re ripping out the red tape so that, from warehouses to grid connections to roads, we’ll build them faster.
“We will have a new industrial strategy created in partnership with you. And we will make sure you have the tools you need to rebuild Britain as well as build your business.”
After Ms Reeves issued a warning to the Cabinet about the state of the public finances, Sir Keir was expected to say business was needed to work alongside the Government to repair the damage.
“Our public finances are in the worst place since the Second World War. So we need a new partnership between the public and private sector to rebuild Britain together,” he was due to say.
“This Government is on your side, and our door will be open to anyone who wants to join in this work of national renewal.”
The reception came after the Chancellor chaired the first meeting of the cross-government growth mission board.
“Growth is our number one mission and in our first few weeks this Government is taking the tough decisions to deliver on that agenda,” the Chancellor said.
“From planning reform and supporting our future industries to strengthening local leadership and forging ahead with new infrastructure, our work has just begun to fix the foundations so we can rebuild Britain and make every part of the country better off.”