Intervention in industry is a flawed strategy

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

To arrange an interview with an IEA spokesperson, please contact Stephanie Lis, Communications Officer: 07766 221 268.

The mission of the Institute of Economic Affairs is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems.


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