Aug 23, 2018 - World

U.K. businesses fear Labour government almost as much as Brexit

Jeremy Corbyn giving a speech

Labour Party leader Jeremy Corbyn. Photo: Alex Cavendish/NurPhoto via Getty Images

A poll of U.K. executives revealed that — aside from Brexit — the prospect of a Labour Party government led by Jeremy Corbyn is considered the biggest threat facing British businesses in the coming months, reports the Financial Times.

The big picture: The 39% of executives that named a Labour government as one of the three most pressing challenges — compared to 51% for Brexit — did so because of Corbyn's pledges to "nationalize the rail, water and postal industries, sharply increase corporation tax and taxes on the most wealthy, and end private finance initiative contracts with the state."

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