Connect with us

Hi, what are you looking for?

Metaverse CapitalistsMetaverse Capitalists

Business

Export champion quits over ‘anti-business’ stance, claiming Starmer and Reeves ‘talk down the UK’

Mark Stewart, chief executive of Gloucester-based Stewart Golf, has resigned from his role as one of the government’s “export champions,” citing frustration with what he calls Labour’s “anti-business policies” under Sir Keir Starmer and Rachel Reeves.

Stewart’s company, which manufactures electric golf buggies, exports half of its £7 million turnover to the United States.

His departure comes after the speech from the chancellor on Wednesday, where announcements on airport expansions, updated regulations, and investment in technology clusters were made  to bolster the UK’s growth prospects.

Having just returned from a trip to America, Stewart, 45, says the contrast in attitudes to business could not be starker. “I can’t be part of this,” he told The Times. “Every turn, there’s something that makes life more difficult for people trying to run small businesses like mine. I don’t feel we’re being supported or encouraged even to try and be better.”

He pointed specifically to Labour’s rhetoric as undermining British optimism, referencing the shadow chancellor’s comments about aspiring to “American-style optimism” during a trip on China’s bullet train. “Between you and the boss [Starmer], all you’ve done is talk down the UK,” he said.

Stewart also expressed dismay at government plans for stricter employment rights and what he sees as punitive taxes on business assets passed between family members, echoing widespread disquiet among SMEs. “We are good at what we do,” he said. “I don’t want to be worrying about day-one employment rights. I want to be making great golf trolleys and trying to sell them.”

The entrepreneur was one of about 400 “export champions” appointed by the Department for Business and Trade to share insights on growing overseas sales. While he praised the scheme’s intentions, he said burdensome policy measures had tipped him towards quitting.

Not all export champions share Stewart’s stance. Adam Sopher, co-founder of luxury popcorn producer Joe & Seph’s, chooses to remain. “It is better to represent as an export champion and have some influence than not be able to,” he said, noting that 30 per cent of his business comes from export sales. “The government can do more to help small companies expand into Europe, and I am keen to help.”

Sopher acknowledged that rising national insurance contributions and increased costs are hurting margins across the sector, but views the role of export champion as a chance to push for constructive policy solutions.

A Department for Business and Trade spokesperson thanked Stewart for his work but argued that “driving economic growth is our number one mission. Britain is back, open for business, and we’re focused on widening opportunities for businesses to export and break into new markets.”

Stewart’s resignation, however, underscores the mounting tension between smaller exporters and policy decisions that they feel hamper competitiveness—at a time when the government is making high-profile announcements aimed at spurring growth. Whether these new initiatives can quell dissatisfaction among key SME figures remains to be seen.

Read more:
Export champion quits over ‘anti-business’ stance, claiming Starmer and Reeves ‘talk down the UK’

    You May Also Like

    Stocks

    In this edition of StockCharts TV‘s The Final Bar, Dave shows how breadth conditions have evolved so far in August, highlights the renewed strength in the...

    Business

    In the UK, the care sector is under incredible strain, it’s good to know there are people working hard to address the issue. One...

    Business

    With the increased threat of industrial strike action looming across the UK, we consider whether a force majeure clause can strike the right chord...

    Politics

    On January 10, the French government announced plans to raise the retirement age from 62 to 64. The change would mean that after 2027,...

    Dislaimer: pinnacleofinvestment.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 metaversecapitalists.com | All Rights Reserved