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Pursuit of profit is not evil, says Labour's Stella Creasy Pursuit of profit is not evil, says Labour's Stella Creasy
(35 minutes later)
The pursuit of profit does not make you evil, the Labour deputy leadership frontrunner Stella Creasy has said in a speech designed to improve the party’s relations with business.The pursuit of profit does not make you evil, the Labour deputy leadership frontrunner Stella Creasy has said in a speech designed to improve the party’s relations with business.
Creasy, who won praise during the last parliament for her campaigning against some of the practices of payday lending companies, said it was time to turn the page on “tired old cliches”.Creasy, who won praise during the last parliament for her campaigning against some of the practices of payday lending companies, said it was time to turn the page on “tired old cliches”.
In a balanced message to the Labour finance and industry group, she said making a profit was a “central dynamic” of the economy but businesses should have wider ambitions.In a balanced message to the Labour finance and industry group, she said making a profit was a “central dynamic” of the economy but businesses should have wider ambitions.
“Let me begin by turning the page on tired old cliches. Being in public life doesn’t make you an automatic moral authority,” Creasy said. “Wanting to make a profit doesn’t make you evil. Its the central dynamic of our modern economy – but that does not mean it is the be all and end all of commerce. Just as we breathe to live but breathing is not the purpose of life.” “Let me begin by turning the page on tired old cliches. Being in public life doesn’t make you an automatic moral authority,” Creasy said. “Wanting to make a profit doesn’t make you evil. It’s the central dynamic of our modern economy – but that does not mean it is the be all and end all of commerce. Just as we breathe to live but breathing is not the purpose of life.”
The speech follows interventions by the four Labour leadership candidates – Andy Burnham, Liz Kendall, Yvette Cooper and Mary Creagh – who have all suggested that Ed Miliband wrongly alienated business leaders. On Friday in a speech at the London headquarters of Ernst and Young last Friday, Burnham said business leaders who showed the spirit of enterprise would be “as much our heroes as the nurse or the teacher”.The speech follows interventions by the four Labour leadership candidates – Andy Burnham, Liz Kendall, Yvette Cooper and Mary Creagh – who have all suggested that Ed Miliband wrongly alienated business leaders. On Friday in a speech at the London headquarters of Ernst and Young last Friday, Burnham said business leaders who showed the spirit of enterprise would be “as much our heroes as the nurse or the teacher”.
Creasy called for an end to the “arm’s-length” relationship between Labour and business and said she hoped the party would persuade more business leaders to stand as candidates.Creasy called for an end to the “arm’s-length” relationship between Labour and business and said she hoped the party would persuade more business leaders to stand as candidates.
“Our common cause is clear, but if we are at arm’s length it’s little wonder that no one trusts the other. We need to have a relationship that is about more than cash or criticism. One that reflects the importance not simply of listening to business, but involving them directly alongside other stakeholders in our movement,” she said.“Our common cause is clear, but if we are at arm’s length it’s little wonder that no one trusts the other. We need to have a relationship that is about more than cash or criticism. One that reflects the importance not simply of listening to business, but involving them directly alongside other stakeholders in our movement,” she said.
“And that starts with our people. Labour doesn’t need to be more pro-business. We have to be of business, with more candidates and activists at all levels with direct experience of business both big and small throughout our movement.“And that starts with our people. Labour doesn’t need to be more pro-business. We have to be of business, with more candidates and activists at all levels with direct experience of business both big and small throughout our movement.
“Our future lies in being a movement of many who stand up and speak for how much better and bigger the world can be when fairness, prosperity and opportunity is open to all, not just those with the money or means to buy success.”“Our future lies in being a movement of many who stand up and speak for how much better and bigger the world can be when fairness, prosperity and opportunity is open to all, not just those with the money or means to buy success.”
Creasy was named as the frontrunner in the deputy leadership contest in a recent LabourList survey of readers which put her on 29.2%, narrowly ahead of Tom Watson on 29%. The other contenders are Caroline Flint, Angela Eagle, Ben Bradshaw, Rushanara Ali and John Healey.Creasy was named as the frontrunner in the deputy leadership contest in a recent LabourList survey of readers which put her on 29.2%, narrowly ahead of Tom Watson on 29%. The other contenders are Caroline Flint, Angela Eagle, Ben Bradshaw, Rushanara Ali and John Healey.