Former Tory donor John Caudwell, the founder of Phones 4U, came out in favour of Labour ahead of the general election.
The billionaire told the BBC he was “not very keen” on Labour’s plans to increase workers’ rights, calling them “a real burden on business”.
However, he said businesses and potential investors, would “swallow the difficulties that come as a result of that extra regulation on employee rights” if the wider goal of growing the economy was met.
The boss of Norwegian energy company Equinor, Anders Opedal, said that stability was key, especially regarding tax, and the Budget later this month “will be very important for us”.
“I think the government are putting forward a very good strategy for how to improve, working together with the private sector, now it is about execution and getting execution right.”
The government is facing a balancing act ahead of the Budget, having already signalled that some taxes will rise.
On Sunday, Business Secretary Jonathan Reynolds did not rule out an increase in the rate of National Insurance paid by employers.
Labour pledged in its manifesto not to raise National Insurance. But Reynolds told Sky News: “That pledge – it was taxes on working people so it was specifically in the manifesto, a reference to employees and to income tax.”