Saturday, February 29, 2020

Norman Lamb on Rebooting Capitalism

Radix feels like a think tank that was set up to serve a new centre party that never happened, but it has published an important paper by the former Liberal Democrat MP Norman Lamb.

His recommendations in Rebooting Capitalism include:
  • Using the upcoming decampment from the Palace of Westminster to move the national Parliament to the North of England, separating the UK’s economic and political capitals and building a real Northern Powerhouse.
  • Devolving power radically, including over setting taxes, to cities and regions, enabling them to determine their own destiny and empowering local innovation. 
  • Streamlining the creation of employee-owned businesses to encourage the transfer of ownership of businesses to their employees. 
  • Setting a new lowest rate of corporation tax, applicable only to those companies which share prosperity equitably with staff.
  • Setting tough new competition rules to challenge concentrations of power and wealth and to drive up wages, drive down prices and improve consumer choice.
  • Reforming company law to incentivise firms to act as a force for good, recognising a wider purpose than narrow shareholder value.

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