Sharp Dressed Man: Jonathan Reynolds Appeals to ‘Red Wall’ Voters
Labour has worked hard to gain the trust of the business community, and one person who has played a significant role in this effort is Jonathan Reynolds, the Shadow Business Secretary. Dressed in a sleek dark suit and tie, Reynolds may look like a typical City professional, but his North-East working-class background also resonates with the ‘Red Wall’ voters that Labour lost in the 2019 General Election.
Our meeting takes place at the headquarters of UK Finance, an industry lobbying group located in the heart of London’s financial district. This choice of location reinforces the message that Labour has moved away from Corbynism and is now embracing the business community. This reminder is especially timely as Labour’s 2023 party conference begins today.
“I meet with businesses on most days, sometimes several in one day,” says Reynolds. He places great importance on building relationships with the business world, which is a sharp departure from the hard-left era of Jeremy Corbyn and John McDonnell.
Reynolds also takes a dig at the Conservative Party and its strained relationship with business during Boris Johnson’s time as Prime Minister. “Any government needs a good relationship with business,” he asserts. “But many firms feel that the current government has abandoned the idea of constructive dialogue.”
If Labour aims to reclaim the label of being the party for “aspirational” individuals, Reynolds would make an excellent figurehead. Born and raised in Sunderland, his father was a firefighter, and his mother worked for doorstep lender Provident Financial. After temporarily putting his ambitions on hold when the mother of his child became pregnant, Reynolds returned to education to study law.
In 2010, he was elected to represent the constituency of Stalybridge and Hyde, just east of Manchester, and has held that position ever since. Despite his high-profile role in politics, Reynolds leads a calm personal life and even boasts about winning his local agricultural show, which he finds amusing.
During our conversation, the word “stability” frequently comes up, which is unsurprising given the tumultuous year the UK has experienced with multiple Prime Ministers and economic turmoil. Reynolds highlights the lack of response to the Inflation Reduction Act, a set of measures signed by President Joe Biden that has injected billions of dollars into the US healthcare and green energy sectors. He stresses the need for a UK response and acknowledges the challenge of competing with the fiscal power of the US.
One significant obstacle to boosting the UK’s competitiveness, according to Reynolds, is the country’s planning system, which has faced severe criticism for delaying housing, infrastructure, and business projects. Business leaders and activists have expressed their frustrations about this issue. Reynolds references the complaints raised by major property developers and the head of UK McDonald’s about bureaucracy hindering expansion plans. He finds this situation frustrating and acknowledges that Nimbyism plays a role in the current impasse.
Despite the challenges, Reynolds firmly believes that changes are necessary to enhance the UK’s competitiveness. He warns that neighboring countries are actively trying to lure businesses away and mentions France’s Choose France policy, the US’ incentives under President Biden, and Spain’s efforts to attract the automotive sector. For the UK to succeed, Reynolds asserts that it needs to actively engage and position itself as an attractive choice for investment.
As an MP for a North-West constituency, Reynolds is particularly critical of the Government’s handling of the HS2 high-speed rail project. Prime Minister Rishi Sunak recently announced that the link to Manchester is being scrapped, which Reynolds describes as embarrassing. In a lighthearted manner, he jokes about sharing a common goal of doing a better job than Rishi Sunak with his counterpart Kemi Badenoch, whom he hopes to replace as Business Secretary.
While Reynolds acknowledges some positive aspects of recent partnership deals and post-Brexit agreements, such as those with Singapore and Switzerland, respectively, he emphasizes that trade policy should prioritize quality over quantity.
Regarding the steel industry, he pushes back against the notion that Labour’s net zero commitments would lead to further shrinkage and job losses. He firmly believes that with the right government support and cooperation with private companies, the sector can have a bright future.
Reynolds states that one reality after Brexit is the need to attract investment from around the world, even if some of the funding comes from countries with mixed human rights records. He emphasizes that engagement does not mean compromising on values, and promoting a strong economy can be a way to promote those values.
However, he is clear that sensitive industries must be protected and emphasizes the need for a Business Secretary who is willing to block takeovers that could jeopardize national security. Overall, Reynolds is determined to position the UK as an outward-looking nation that actively seeks and secures investment.
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