‘I’ve got your back’: U.K.’s Sunak tries to reboot business ties

British Prime Minister Rishi Sunak told more than 200 chief executives on April 24 he was “unashamedly pro-business” and he needed their help to grow the economy and turn around his party’s fortunes before an election expected next year.

British Prime Minister Rishi Sunak told more than 200 chief executives on April 24 he was "unashamedly pro-business" and he needed their help to grow the economy and turn around his party's fortunes before an election expected next year.

Mr. Sunak hosted the bosses at "Business Connect", a conference designed to rebuild the governing Conservative Party's relations with businesses that were damaged during the economic turmoil of the premierships of Boris Johnson and Liz Truss.

Mr. Sunak has made reviving the economy one of his five key priorities after Britain's gross domestic product only regained its pre-pandemic size in February.

"We want businesses small and large to know that this government has got your back," he said.

International Monetary Fund projections published this month put Britain at the bottom of the world's major economies in terms of expected growth in 2023, with a forecast that the economy will shrink by 0.3%.

As well as the global problems of higher energy prices and disrupted supply chains, many British companies are still having to adapt to new trading rules from Brexit as well as shortages of workers.

Data from EY Parthenon showed that U.K.-listed companies issued 75 profit warnings in the first quarter, above the quarterly average, with more than a third citing contract delays or cancellations.