(Bloomberg) -- Britain risks being unable to attract investment if a potential Labour Party government overhauls worker rights, according to the chairman of Marks & Spencer Group Plc.

Archie Norman said a “lack of growth in productivity and investment” heading into the next election was the nation’s biggest problem, the Telegraph reported. 

“Any incoming government should consider carefully whether a package that reduces flexibility, makes it more costly to hire people, and seeks to bring unions back into the workplace will help attract new investment,” Norman added.

Polls have predicted a landslide win for Labour at the next general election. The Keir Starmer-led party has promised to strengthen workers’ rights through policies such as scrapping qualifying periods for full employment entitlements and getting rid of the gig economy.

Yet lobbyists have been urging the party to be careful with its proposed changes.

Responding to comments from Norman, Labour’s shadow business secretary Jonathan Reynolds told the Telegraph that the Conservative government had presided over a “high tax, low growth economy.” 

“Business leaders aren’t asking for a watering down of workers’ rights,” Reynolds said. “They want the policy certainty they need to make long-term investments, stable corporation tax, reform of business rates and action on late payments. That is what they will get with Labour.”

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