Scheduling of event before budget at end of October comes under fire at party conference as ‘wrong way round’

Business leaders have warned that the government’s plans for a major global investment summit are in danger of falling flat, amid growing frustrations over high attendance costs and its timing two weeks before the budget.

As a central plank in Labour’s proposals to drive up investment in Britain, the party pledged in the general election campaign to host the summit within the first 100 days of winning power to show that the UK would be “open for business” under a new government.