Thatcher's policy guru calls for free enterprise

 Thatcher's policy guru calls for free enterprise

Margaret Thatcher's policy guru, Margaret Thatcher, says children should be taught how to set up their own businesses. Sir John Redwood called for career consultants to teach young people about the advantages of working for themselves as an alternative to seeking a job with a big employer. It's one of a package of measures to promote entrepreneurship backed by the former cabinet minister, who headed Lady Thatcher's Downing Street policy unit. Sir John also urged the Treasury to back free enterprise by cutting corporation tax.

In a paper to be published by the Centre for Brexit Policy, he will warn that the UK's education system encourages graduates to look for jobs in large companies, the public sector, professions or charities. The advantages freedom can bring the traditional advantages of the job in government or large companies, the paper says. Sir John warns that changes to taxation are needed to revive the UK's stagnant economy and back Lady Thatcher's vision of a free enterprise nation.

The government will reduce corporation tax to 15 percent, raising the VAT threshold to £250,000 so that more smaller firms are exempted and cutting energy taxes to boost the country's waning manufacturing sector. We will only get inflation down definitively if the UK invests in more capacity, he said. To grow more food, produce more energy, and make more goods, we need to grow more. He also called for an end to 'unnecessary and dysfunctional spending' by the government, and urged Prime Minister Rishi Sunak to cancel the northern leg of the HS2 high speed rail line between Birmingham and Manchester, due to run between Birmingham and Manchester. Downing Street said it had no comment on reports that this section of the line could be scrapped, leaving just services between Old Oak Common on the western outskirts of London and Birmingham.