3 in 4 top bosses fear ‘toxic’ Left-wing pact

MORE than three-quarters of company directors are worried about a ‘toxic’ Labour government propped up by the Scottish National Party, a survey showed yesterday.

A poll of 300 chairmen, executive and nonexecutive directors in British boardrooms found that 78 per cent fear the SNP dictating policy in the next government.

One director said the nationalists have no idea about running a country, while another warned of indecision, infighting, punitive taxation and weak budgetary controls.

The report, by headhunting firm Odgers Berndtson, also found 70 per cent of directors believe Labour is anti-business. The majority – 94 per cent – said a Conservative-led government would be best for business.

The report, which branded the SNP bad for business, bad for the Union and bad for defence, highlights the threat posed to the economy by an Ed Miliband government reliant on support from the SNP.

It is based on the views of the 300 board members across companies listed in the FTSE 100 index and FTSE 250.

Business leaders are worried the SNP will drag Labour even further to the Left, wreaking havoc on the economy through higher taxes, increased spending and more debt. One director said the two parties would create ‘a toxic anti-business atmosphere’.

Another said: ‘I am deeply concerned about the concessions that Labour would make in order to secure the SNP as their partner and thereby hold power.’

Mr Miliband has pledged to raise corporation tax, reinstate the 50p top rate of income tax and create a mansion tax. But SNP leader Nicola Sturgeon has demanded further concessions in return for votes from her MPs.

The survey underlines the gulf between the Labour leadership and business. Mr Miliband has alienated corporate Britain by branding certain firms ‘predators’ and outlining antibusiness policies such as the pledge to freeze energy prices and introduce rent controls.

Leading industrialist Sir Nigel Rudd, chairman of engineering firm Meggitt, this week warned that ‘a profoundly socialist’ Labour administration propped up by the SNP could derail the recovery.