General election: Businesses warn parties over political wrangling

More than 20 London-based business leaders have warned politicians they risk undermining the UK's national economic interests if they prioritise their parties' "political needs" in order to win power in the expected post-election negotiations.

With three days until a general election that polls suggest will result in a hung parliament, the executives "urge politicians of all hues [to] ensure that the message from the next government is clear: Britain is open for business".

In a letter to the Daily Telegraph, the 23 leaders - who include Declan Collier, chief executive of London City Airport, Baroness Valentine, chief executive of London First, and Harold Paisner, senior partner at law firm Berwin Leighton Paisner - believe politicians are obscuring the message in four ways.

Putting "arbitrary targets" on the number of skilled foreign workers and students allowed into Britain is their main concern. "These people fill skills gaps, contribute to our success and (contrary to the rhetoric) boost opportunities for British workers," the letter says.

The Conservatives have said they would like to limit net migration, which is currently 280,000 people a year, to tens of thousands while Labour has said immigration is "important for Britain's future" but "needs to be properly controlled and managed". The Liberal Democrats are more open in their support for immigration.

Lingering uncertainty over the UK's status in the EU is the second criticism because "it will lead to investment decisions being delayed or diverted", the letter says, adding: "Being at the heart of a modernised, more competitive and outward-looking single market is in the national interests."

The Conservatives have promised an in-out referendum in 2017 on Britain's EU membership if they win and the Lib Dems have agreed to a referendum if more sovereign powers are diverted to Brussels. Labour has rejected holding a vote.

The business leaders also criticise Labour's plans to return to a 50p top rate of income tax and several parties' plans to impose a so-called mansion tax on homes worth more than £2m. The Tories are the only main party to reject the latter idea.

"Such policies send the wrong message about how Britain treats success and detract from tax stability", the letter says.

The final concern is that the new government must act on the recommendations of the Airports Commission on expanding runway capacity in south east England. The commission is due to advise after the election whether another runway should be built at Heathrow or Gatwick.

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