// BBC BUSINESS NEWS — FINANZA
'Culture shift' needed in how UK does business, PM urges
The UK needs a "culture shift" in how it does business, Andy Burnham has said ahead of a meeting with some of the UK's biggest bosses.
The prime minister said those who take risks in business should be backed by government and local leaders should have the power to work with businesses.
The current Labour government has been criticised for increasing costs for businesses, such as with the employer national insurance and minimum wage changes under Burnham's predecessor Sir Keir Starmer.
Downing Street said Burnham will meet with the chief executives of BP, Shell, HSBC, Morrisons, Sainsbury's, BT, Vodafone, Rolls-Royce, and several others at Number 10.
Ahead of the meeting, Burnham said he would give people "the confidence that if they have a great idea, they'll get all the support they need to bring it to life".
"When local leaders have the tools to get things done and government works in partnership with business, you can pull in investment, create jobs and transform communities," he said.
He added the government would be "a partner for growth to make every part of Britain better off".
Burnham will host a reception for the business community where local leaders are invited before a private engagement with senior chief executives at Downing Street on Monday evening.
The meeting comes as higher borrowing costs in the UK and other countries present problems for governments looking to spend money on business support or investment.
Official data revealed a surprise boost in the economy in July partly driven by artificial intelligence (AI) investment, though experts expect growth to slow in the months ahead due to high energy prices.