Thread by @CrosbieLiz

Having run a business for 26 years may l remind the PM that higher wages need customers willing & able to accept higher prices OR rapid increases in productivity, which means investment in infrastructure like computing, AI, bots, tools & new skills Investment requires borrowing

Banks invariably need collateral to provide loans. Those without houses with equity are disadvantaged. Women & ppl of colour are particularly disadvantaged in getting good business loans at decent rates Without access to capital business owners sacrifice income to build their biz

If you sacrifice income to build a business you don't get that back as you pay taxes at a higher rate later on. So investment is difficult to achieve so many businesses fail to push through to grow & improve productivity often because they cant afford higher skilled workers. So .

We have a problem in govt asking business to create higher paid jobs. It requires an ecosystem to create growth. From pro-business banking, to support for entrepeneurs over the lifetime of their business to accountants who support growth strategies. Arm waving doesnt cut it

Then we have the customers. Corporate Procurement is set up to buy cheaper rather than value. It rarely evaluates the true cost of an item. Suppliers need profit to survive, never mind grow. Unequal power makes some bullies predate their supply chains. Consumers arent much better

In a low-wage economy, many need cheap to survive. Finding bargains is so essential it makes TV programming. Higher wages need customers prepared to pay fair prices. Commoditisation makes that difficult. Can you see the problem now..

Lots need to change never mind the high expectations for dividends & profits built into a rentier-driven economy. Even PLCs are on a treadmill to deliver returns. The City lives off the back of all other industries & its demands leach £ that could be invested in growth.

Foreign ownership isn't inward investment it is outsourcing rentier demands to other jurisdictions. From water to supermarkets foreign owners extract value to deliver it to the 1% off-shoring their wealth. So tell me again how you raise Britain's low wages without radical change?