Business attraction strategy involves introducing bacon and egg promotions, stirring controversy
Reform UK's 'Bacon and Eggs' Charm Offensive Wooing British Businesses
Reform UK, the UK's political party led by Nigel Farage and Richard Tice, is engaging in a unique approach to win over the business community. Tice, the deputy leader of the party, is conducting a 'bacon and eggs' charm offensive, a symbolic gesture reminiscent of Labour's 'smoked salmon and scrambled eggs' effort ahead of the last General Election.
The 'bacon and eggs' charm offensive involves numerous breakfast meetings with business leaders from FTSE 100 and FTSE 250-listed firms, private companies, and foreign-owned businesses. Tice and Farage, both financially and economically successful MPs, claim to understand the language of business and the steps needed to save the British economy.
According to Tice, Reform UK's potential to form the next government is a significant factor in these meetings. He asserted that many firms recognize Reform UK as a serious contender, following their success in May's local elections and a 14-point lead in the latest national opinion poll.
One of the key aspects of Reform UK's economic plans is their proposal to scrap the net zero carbon climate goal. Tice believes that this move is universally welcomed in private by businesses, as they view it as costly, uncompetitive, and bonkers. However, the Institute for Fiscal Studies (IFS) estimated that Reform's tax-cutting plans could cost up to £80 billion annually, and their strategy involves large, unspecified cuts to public services.
In response to the IFS estimate, Tice dismissed it as a 'back-of-the-fag-packet guess' and claimed that they expect opposition. He also dismissed concerns raised by the Institute for Fiscal Studies, calling the think-tank 'the institute for feeble studies'.
Tice also stated that Reform UK is urging oil and gas companies to prepare applications for drilling licences in the North Sea, to be pre-approved before an election and quickly approved if they win. However, the potential impact of this move on the economy and the environment remains unclear.
Simon French, chief economist at investment bank Panmure Liberum, warned that Britain could face an 'immediate and violent' sterling crisis if Reform UK wins power. Despite these warnings, Tice remains optimistic about Reform UK's chances and the positive response from the business community to their 'bacon and eggs' charm offensive.
- Reform UK, in their bid to form the next government, is using financial and economic success stories of Tice and Farage to appeal to businesses, asserting their understanding of business language and the necessary steps to save the British economy.
- The 'bacon and eggs' charm offensive, comprising breakfast meetings with various businesses, is Reform UK's strategy to win over the business community, with many firms recognizing them as a serious contender following recent successes.
- In contrast to the Institute for Fiscal Studies' estimation of their tax-cutting plans costing up to £80 billion annually, Tice dismisses the evaluation as a 'back-of-the-fag-packet guess' and finds opposition expected.
