A NEW group of Conservative MPs launched last night to promote free enterprise and counter the widespread belief that the financial crisis was caused by too little regulation.
The 22-strong group, put together on the initiative of Elizabeth Truss MP, aims to “make the case” for economic freedom.
“Free enterprise has got a bad name – it is less popular in Britain than in countries like China, Germany and the US,” Truss told City A.M. “We need to challenge that.”
“There is a view that you cannot be both ‘modern’ and ‘free market’ at the same time. But if you take the example of child care, the last government increased the regulation of child-minders halving their number and doubling the cost of child care.
“Deregulation would be good for everyone involved.”
Though most of the group come from the 2010 parliamentary intake, senior backbencher Andrew Tyrie has also joined.
The chairman of the Treasury select committee criticised the government over the weekend, saying that a longer-term growth strategy would improve the chances of success in other areas, like the “big society.”