Britain is at risk of becoming an “economic colony” under Labour, financial expert Justin Urquhart Stewart has warned.
Speaking to GB News, Mr Urquhart Stewart described the Government’s approach as “amateur” and said ministers lack the knowledge to properly grow the economy.
Mr Urquhart Stewart highlighted how poorly planned budgets and rising taxes are eroding investor confidence across the UK.
“Creating wealth and encouraging investment isn’t rocket science,” he said.
“Yet Labour seems to be ignoring the simple levers that could secure Britain’s financial independence.”
The expert warned that foreign takeovers of British companies have surged in the last year, with deals now worth $142billion (£115billion).
“Do we want to see our key industries owned by overseas investors?” he asked. “That’s the path we’re heading down.”
“The Treasury and the Government don’t actually understand how to grow the economy by supporting businesses and helping them reach the next stage.
The expert warned that foreign takeovers of British companies have surged in the last year
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GB NEWS
“It’s almost as if they assume companies will thrive on their own.
“No they need guidance, nurturing, and a taxation system that encourages investment and development, both domestically and internationally.
“If companies are coming in and money is available, the basic bricks are already there.
“Unfortunately, the people applying the cement, our policymakers, are lacking in economic expertise and don’t know how to properly put those bricks together.
Mr Urquhart Stewart highlighted how poorly planned budgets and rising taxes are eroding investor confidence across the UK
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GB NEWS
“This lack of knowledge and understanding creates an attitude where everyone else is seen as an enemy.
“Instead of asking, “How can we help solve this?” the focus is on opposition and blame.
“This isn’t just about party politics, it’s about ensuring the economy functions effectively for everyone.”
GB News Originals host Nicholas Dunning asked: “This is really getting out of the key element of the logic of running an economy for the benefit of everybody, every citizen in this country.
“I don’t want to be alarmist, but do we do we not risk becoming an economic colony if this continues?”
“Years ago, I was selling England by the pound, and that’s exactly how it feels when you look around our businesses today.
“Many are no longer owned by people in the UK, they’re owned by foreign investors.
“There’s nothing inherently wrong with that, but take Canadian pension funds, for example.
“They have a strong track record for long-term investing, yet the benefits go to those investors, not the UK.
“Why can’t we be doing the same here? Again, it comes back to the fact that pension trustees aren’t being guided on how best to use that money.
“It’s not just pensioners, it’s investors and the wider public who need a better understanding of how economics can work for everyone.
“Instead, we get old political slogans about ‘soaking the rich,’ which don’t grow wealth or benefit the nation.”