With the Deputy Prime Minister’s demise precipitating a full Cabinet reshuffle, it would be easy to focus on the negatives. But this is also an opportunity for the Government to strike out in a new direction. As every founder learns through experience: never let a good crisis go to waste.
Tony Blair articulated this opportunity well with his famous “kaleidoscope speech” in Chicago on 22 April 1999:
"This is a moment to seize. The kaleidoscope has been shaken. The pieces are in flux. Soon they will settle again. Before they do, let us reorder this world around us."
The Prime Minister must already get this. After all, it’s all too easy to forget that he inherited a Labour Party in crisis. When Jeremy Corbyn was their leader, Labour was polling only in the 20s. Keir Starmer rebranded the party, purged the antisemitism, rebuilt its credibility with business, and decisively won the 2024 election.
While the last 14 months haven’t gone swimmingly, all is not lost. Now’s the time to ditch what isn’t working and lean into what we know will – specifically when it comes to spurring economic growth.
First things first: do no (or at least less) harm. With Angela Rayner gone, it’s time to ditch the worst parts of her Employment Rights Bill. As I wrote back in February, the Government’s own analysis projects its annual cost to businesses to be in the billions. Founders have told us repeatedly that they’re really concerned about the mooted changes. Of course, workers need protection; but they also need jobs in the first place. (Next month, Lord Leigh is chairing a virtual roundtable to discuss the implications of the Government’s Employment Rights Bill on businesses – sign up here.)
Second, we need to get more of the basics right. As we argued in Building Blocks, even marginal policy improvements in a few large areas – such as simplifying our country’s planning rules, rationalising the tax code, or modernising the visa system – would do more to ensure we are genuinely offering the best possible platform from which to unleash the full potential of entrepreneurship and innovation in Britain.
These aren’t only things that the Government could (or should) do, but if I were Starmer I would apply the advice of Steve Jobs to the rest of his term: “Deciding what not to do is as important as deciding what to do.”
In truth, you can count the real and lasting achievements of even our most radical Prime Ministers on one hand.
Clement Attlee created the NHS, built the welfare state, co-founded NATO, initiated Britain’s nuclear deterrent and granted independence to India.
Margaret Thatcher privatised major industries, curbed trade union power, deregulated the City and introduced Right to Buy.
Tony Blair secured the Good Friday Agreement, gave the Bank of England independence, introduced the National Minimum Wage and devolved power to the nations.
Starmer’s second phase of this Government should be unapologetically focused on the big things.
To that end, I would point people towards the latest newsletter from the APPG for Entrepreneurship. Penned by my colleague Eamonn Ives, it flags what will definitely be one of the less discussed job moves this week, but that doesn’t make it any less important. John van Reenen, the Chair of the Chancellor’s Council of Economic Advisers will now report directly to Rachel Reeves as an expert adviser. As Eamonn writes:
“One piece of research that has stuck with me over the years is his 2019 paper A Toolkit of Policies to Promote Innovation. Written with the equally distinguished Nicholas Bloom and Heidi Williams, this paper quickly yet comprehensively makes the case for why governments should support endeavours to promote innovation, before evaluating some of the most common ways they try to do so. Specifically, they examine tax policies to favour research and development, government research grants, policies aimed at increasing the supply of human capital focused on innovation, intellectual property policies, and pro-competitive policies.”
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The ideal candidate will be highly self-motivated with a strong interest in public policy. They will not simply wait to be assigned tasks, but proactively identify new opportunities to drive the policy agenda. We expect applicants to be recent graduates, or to be working in a similar role, or to have already demonstrated the core competencies we’re looking for in another role.
Strong applicants will have shown an active interest in policies and issues that impact entrepreneurs. Most importantly, their values will be in strong alignment with those of The Entrepreneurs Network.