Oil price falls to lowest level since before the US-Iran war; UK firms hope Burnham will ease burden – business live

Key events Chancellor Rachel Reeves, who is widely predicted to be replaced if Andy Burnham becomes prime minister, is due to speak at the BCC’s conference today. Several other senior political figures are also due to speak…. as is Andy Haldane , the former Bank of England chief economist who has reportedly been advising Andy Burnham. Here’s the latest agenda: Businesses urge next PM to ease burden on firms to drive growth UK firms have been through a torrid decade – first the Brexit vote, then Covid-19, and then the twin energy shocks from the Ukraine and Iranian wars. And with a new prime minister soon to take office, business leaders are hoping they will resist the temptation to pile costs on business. Shevaun Haviland, Director General of the British Chambers of Commerce ( BCC) will warn today that the next PM – likely to be Andy Burnham - should try to lift business confidence to achieve higher growth, not stifle it. Haviland will tell the BCC’s Global Annual Conference today that a lack of confidence is hurting the economy, explaining: double quotation mark “Weak confidence reduces appetite for risk, which reduces investment, which hampers growth, which knocks confidence further. “And this circular crisis of confidence is now shackling ambition. Blocking the actions needed to invest, innovate and trade. “And whoever sits in No10, or the Treasury, needs to understand that. …