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CBI: 'Labour's re-nationalisation plans will profoundly harm UK'

    Labour's plans for re-nationalisation will "profoundly harm" the UK economy, said Carolyn Fairbairn, CBI Director-General.

    Speaking at Liverpool John Moores University, Fairbairn quoted CPS figures from "The Cost of Nationalisation" paper published in 2018 which estimated the cost of Labour's re-nationalisation plans at over £170bn, or £6,500 per UK household.

    Fairbairn added that over 8 million pension pots are invested in the industries Labour wants to nationalise and that these would "be at risk" if Labour carried out its plans.

    Click here to read the full press release on the CBI website.

    Date added: Thursday 28th March 2019