Today, the head of CBI will launch an infuriating critique of free market capitalism. He claims that it has led to large swathes being left in decline.
Director-general Tony Danker will tell the Confederation of British Industry conference that successive governments have let ‘old industries die’ since the 1980s, with the communities facing ‘benign neglect’ ever since.
‘We’ve had five decades where the free market has palpably failed,’ he told the Daily Mail.
Director-general Tony Danker will tell the Confederation of British Industry conference that successive governments have let ‘old industries die’ since the 1980s, with the communities facing ‘benign neglect’ ever since
‘There is a debate on the Right of politics over industrial strategies and whether they should exist.
“That shouldn’t be the subject of a discussion. Although this is not traditional Thatcherism criticism, it does address New Labour.
‘But it is a wider critique because pretty much every institution took the same view.
‘I don’t think you can “level up” without free-market capitalism but it is not enough on its own.
‘We need partnership with government.’
CBI is often seen as championing free-market economics and this speech represents a break from that mold.
Boris Johnson has put ‘levelling up’ the North at the centre of his agenda as Prime Minister, with the policy credited with earning the Tories a host of Red Wall seats at the 2019 general election
This is sure to be a rebuke for Margaret Thatcher’s supporters, who may view it as a blatant attack on her policy towards traditional industries.
Boris Johnson has put ‘levelling up’ the North at the centre of his agenda as Prime Minister, with the policy credited with earning the Tories a host of Red Wall seats at the 2019 general election.
Previous employers include McKinsey Business Consulting, Treasury and The Guardian Newspaper.
His speech will be delivered today at South Shields’ Port of Tyne.