The big questions for Keir Starmer’s Labour

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Sir Keir Starmer’s opposition Labour party will step up efforts to woo the private sector on Thursday by hosting a “business day” for 400 corporate leaders. That tickets reportedly sold out within hours suggests it is pushing on an open door. Many companies hope a change of UK government could at least produce the stability and consistency that Conservative governments of late have singularly failed to provide. Yet to secure the corporate world’s trust, Labour needs to provide more detail of its plans, in several crucial areas.

Labour has reason to be wary of providing too much information; winning the next election will require it to hold together the broadest coalition, without unsettling key constituencies. But Starmer needs business help to deliver the growth that is at the heart of his agenda. The partnership with business he has touted should extend to explaining today how key elements would work, so that companies can plan accordingly.

One big question is how Labour sees the balance between employers and employee rights. Central to its programme is a package of worker protections that has been important to keep the Labour left onside while steering away from radical Corbynism. Reducing insecurity and curbing zero-hours contracts, for example, are hard to argue with. Yet granting basic individual employment rights from day one will limit employers’ flexibility. After a surge in industrial action in the past year, many bosses will also balk at a repeal of key Conservative trade union legislation, making it easier to go on strike. Business should know what elements of the package will be prioritised, who will be covered — and what transition periods will be granted.

In terms of its growth agenda, Labour’s boldest bet is its Green Prosperity Plan — a rough equivalent of America’s Inflation Reduction Act — with…