Labour has witnessed a notable surge in business engagement for its upcoming annual conference in October, coinciding with the party's strong performance in opinion polls.

Shadow Chancellor Rachel Reeves has ruled out any form of wealth tax under a Labour government, while the party reported a 50% increase in attendance at its business forum compared to the previous year.

Described as the "flagship engagement event for business," the four-day conference in Liverpool has already attracted 200 registered participants, with an additional 150 on the waiting list. Labour's website states that all available tickets have been claimed. This growing corporate presence has led the party to claim the mantle of being the "party of economic growth."

Labour leader Sir Keir Starmer aims to leverage this conference to outline his strategy for rejuvenating a sluggish economy. He will emphasize planning reforms as a central element in the party's approach to economic recovery.

Sir Keir Starmer has been actively courting business leaders in anticipation of a possible general election next year. He has indicated that income tax for high earners will not be raised if Labour comes to power. Shadow Chancellor Rachel Reeves confirmed that raising income tax, implementing a wealth tax, targeting expensive properties, or increasing capital gains tax are not part of their plans. Instead, Reeves stressed a focus on stimulating economic growth through encouraging business investments of all sizes in the UK.

Labour has observed an increase in business-related donations, projecting up to half a million pounds in business sponsorship for this year compared to £200,000 in 2022.

A Labour Party spokesperson stated, "With Keir’s leadership, the Labour Party is once again the party of economic growth. At this year’s conference, we will be setting out how a mission-driven Labour government will deliver economic growth across all parts of the country and give Britain its future back."

Additionally, the upcoming Labour conference will feature a half-day event dedicated to discussions with small and medium-sized businesses about the party's plans to revitalize the economy.

The Labour Party conference is scheduled for October 8-11, following the Conservative Party's conference in Manchester, which will be held on October 1-4. Photo by Rwendland, Wikimedia commons.