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To coincide with the Rachel Reeves speech, 120 business leaders have signed a letter published in the Times backing Labour. The paper has splashed on the news.

In his story, Steven Swinford says:

The signatories, who include senior figures from the City, entrepreneurs, investors, high-profile figures from the world of technology and leading retailers, say change is needed “to achieve the UK’s full economic potential”.

The letter is signed by past and present executives from JP Morgan, Heathrow, Aston Martin, JD Sports, Iceland and the advertising giant WPP. Sir Jimmy Wales, the founder of Wikipedia, and Tom Kerridge, the restaurateur, have also signed the letter, along with the founder of a childcare company in which the prime minister’s wife previously held shares.

We, as leaders and investors in British business, believe it is time for a change. For too long, our economy has been beset by instability, stagnation and a lack of long-term focus.

The UK has the potential to be one of the strongest economies in the world. A lack of political stability and the absence of consistent economic strategy have held it back. The country has been denied the skills and infrastructure it needs to flourish.