The UK prime minister, Andy Burnham, is preparing to host a gathering of business leaders, entrepreneurs, and mayors at Downing Street on Monday. The event aims to highlight the government's role as a "partner for growth," emphasizing its commitment to creating a stable environment for investment and job creation. Burnham has argued that the UK possesses the talent, world-class universities, and infrastructure needed for success, but he believes the nation needs a "culture shift" in how it approaches business to unlock its full potential. His vision includes "reindustrialising Britain" through closer collaboration with the private sector, supporting those who take risks and innovate. Burnham will meet with founders of emerging tech companies like Octopus Energy, Revolut, and Starling Bank, as well as leaders from quantum computing firms such as Oxford Quantum Circuits. He will then welcome chief executives from major UK firms, including financial institutions like HSBC and Standard Chartered, supermarkets such as Morrisons and Sainsbury’s, telecoms giants BT and Vodafone, oil companies BP and Shell, and manufacturers Rolls-Royce and BAE Systems. These meetings come as Burnham and Chancellor John Healey prepare for their first budget on 28 October, which will focus on distributing power and resources to local leaders and stimulating economic growth across the country. However, Healey faces a challenging economic environment, with rising borrowing costs and the global impact of the conflict in the Middle East. While the UK economy unexpectedly grew by 0.4% in July, driven in part by investments in artificial intelligence and cloud computing, economists warn that rising energy costs may have slowed growth in the following months. Suren Thiru, chief economist at the Institute of Chartered Accountants England and Wales, has warned that if growth continues to slow, the chancellor could face a difficult budget, with potential increases in taxes to address fiscal constraints. Burnham and Healey have pledged to follow the fiscal rules set by former chancellor Rachel Reeves, which include reducing government debt as a share of the economy by 2029/30 and covering day-to-day spending through taxes. They have also committed to not raising income tax, national insurance, or VAT as outlined in Labour’s manifesto. In his first major speech, Healey emphasized that boosting growth would be his priority, but he also acknowledged the need to control public spending. He outlined plans to empower local leaders, reduce business costs, and use public investment to attract private capital. The upcoming meetings come as higher borrowing costs complicate efforts to support businesses and investment. While the UK saw a surprise economic boost in July due to AI and cloud computing, experts predict slower growth in the coming months due to high energy prices. The conflict between the US and Iran has driven up oil prices, leading to higher energy costs that affect both households and businesses. This has raised concerns about inflation remaining high, which could prompt central banks to increase interest rates. The UK, in particular, faces higher borrowing costs, as seen in the yield of 10-year government bonds, which is higher than in countries like the US and Japan. Some argue this is due to a lack of investor confidence, influenced by frequent changes in leadership and policy.