Deregulation not government intervention is the solution to industrial growth

Commenting on Lord Heseltine’s new growth report, Prof Philip Booth, Editorial Director at the Institute of Economic Affairs, said:

“Close collaboration between government and industrial leaders would be a dismal failure. It is a recipe for corporatism and restricting competition, and consequently growth. Current areas of close cooperation between business and government – the banking and energy sectors – are testament to how damaging this can be.

“We need to deregulate all businesses and lower taxes, not pick winners. Whilst some of Heseltine’s policies are a nod in this direction, a number of wrong conclusions are also drawn from false premises.”

Notes to Editors

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