A knowing state

[Re: Vince Cable’s vision for UK plc neglects liberty, yesterday]

Jamie Whyte is right to sound alarm bells at the threat of government interference in business. He’s wrong to imply ministers have no role in creating wealth. Business leaders control many levers, but most are in the hands of Whitehall. We lack the skills to meet the challenges of the twenty-first century. Government must correct this through education. Government also creates the tax and regulatory framework in which business can thrive or be stifled. With the right economic vision, government can invest in research and technology, and incentivise investment in the areas most likely to return dividends to taxpayers. This can’t be accomplished in a vacuum. It’s vital the government has an informed view of the future to ensure the environment is conducive to the needs of business.

Sir Christopher Coville