David Cameron announced today at the British Chambers of Commerce regional summit that he wanted to create an "invigorating climate for enterprise" in the UK. He said that government’s central role should be to provide economic stability. "Success is also about government creating the right infrastructure, particularly in the areas of transport, innovation and education that are so vital to encouraging regional enterprise." A key aspect of Cameron’s speech was a call for even greater independence for the Bank of England. "People think that with Bank of England independence this issue is done and dusted. It isn’t. Decisions that are crucial to the running of the British economy are still being made by politicians behind closed doors. "The Chancellor retains the right to re-appoint the Governor of the Bank of England. I believe it’s time to have a single, non-renewable fixed term for the Governor to insulate him or her from political pressure. You can hear a nice, easy-to-use podcast of his full speech here. On red tape and bureaucracy, he said that businesses suffered from "mistrust, second guessing and insulting, pointless, maddening bureaucracy." Which is all very well. But, having covered this business arena for more years than I’d care to recollect, only one thing is for certain: all oppositions claim that they will reduce red tape. None deliver. We should recall that the non-dom levy, itself another opportunity for officials to flex their muscles, was a Tory idea. I’m minded to applaud Cameron’s sentiments but, as we discovered ourselves when we interviewed him on his agenda for business a couple of years ago, the details are scanty. Jury’s still out. Related storyDavid Cameron interview in Real Business, 2005.
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