What Scares Business More: Brexit or Corbyn? U.K. Campaign Trail

Robert Hutton

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What worries business the most: A large regulatory border between the U.K. and the European Union after Brexit or a Labour government led by Jeremy Corbyn? Those attending Monday’s Confederation of British Industry conference in London will get a taste of both options.

Prime Minister Boris Johnson will address them first, offering an olive branch of tax cuts worth an estimated 1 billion pounds ($1.3 billion) to make up for the disruption of Brexit. He’ll be followed by Corbyn, who is pledging to nationalize key industries if he wins power. Bloomberg Economics sees the election result as “critical” for the direction of the U.K. economy in 2020.

A slew of Sunday polls looked good for Johnson, but this week sees two televised appearances alongside Corbyn. There’s still plenty that can go wrong.

Must Read: Johnson Offers Business an Olive Branch as U.K. Election Revs Up

For more on the election visit ELEC.

Coming up:

Business Secretary Andrea Leadsom and Labour trade spokesman Barry Gardiner will be doing the morning broadcast interviews.At 9.30 a.m. the Liberal Democrats take broadcaster ITV to court, arguing that their leader Jo Swinson should be included in election debates.Johnson speaks to CBI “late morning.”Corbyn takes to the stage 11.15 a.m.Swinson will also speak to the CBI conference.

Polls:

A Survation poll for Monday’s Good Morning Britain TV show put the Tories on 42%, Labour on 28%, the Lib Dems on 13% and the Brexit Party on 5%.On Sunday, a YouGov/Sunday Times survey put the Conservatives on 45% (+3), Labour on 28% (nc), the Lib Dems on 15% (nc) and the Brexit Party on 4% (nc).The Tories hit their highest level since 2017 in a SavantaComRes/Sunday Telegraph poll: Conservative 41% (+1), Labour 33%(+3), Lib Dem 14% (-2), Brexit Party 5% (-2)Opinium/Observer: Conservatives 44% (+3), Labour 28% (-1), Lib Dem 14% (-1), Brexit Party 6% (nc).BMG/Independent: Conservatives 37% (nc), LAB 29% (nc), Lib Dem 16% (nc), Brexit Party 9% (nc).Deltapoll/Mail on Sunday: Conservatives 45% (+4), Labour 30% (+1), Lib Dem 11% (-5), Brexit Party 6% (nc).Here’s a summary of recent polls.

Catching Up:

Every Conservative candidate has pledged to vote for Johnson’s Brexit deal in Parliament if they are elected, the prime minister said.Labour agreed its policy platform on Saturday; the Mail on Sunday leaked some policies, calling it a “Marxist manifesto.”The document will include a plan to force companies to give 10% of their shares to workers over 10 years, the Financial Times reports.The fallout continues from Prince Andrew’s TV interview on his links to pedophile financier Jeffrey Epstein. The Times calls it a “TV calamity” that suggests Queen Elizabeth II “is losing her grip.”U.S. entrepreneur Jennifer Arcuri, at the center of a controversy with the prime minister, accused Johnson of casting her aside “like I am some gremlin.”

The Markets:

The pound strengthened in early trading on Monday against all its Group-of-10 peers after Johnson unveiled the Tory candidate pledge. Sterling climbed to a two-week high.

To contact the reporter on this story: Robert Hutton in London at rhutton1@bloomberg.net

To contact the editors responsible for this story: Timothy Ross at tross50@bloomberg.net, Adam Blenford, Chris Kay

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