The Adam Smith Institute is very disappointed by the Conservative Party’s proposed changes to state aid rules that take the United Kingdom in an interventionist direction. Matthew Lesh, Head of Research at the Adam Smith Institute, says:

“We shouldn’t free ourselves from the European Union in order to just enslave ourselves to the whims of Whitehall. The British people are sick of massive corporations, who have close connections with the government, getting huge handouts at the taxpayer’s expense.

“Weakening bailout rules is hugely disturbing. A Conservative government should not be promising to use taxpayer money to subsidise failing industries. Making a profit is a proof of the value added to society, and there must be no business that is too big to fail. Boris should support individuals to build skills and safeguard their futures, not entrap them in old industries.

“Promoting the “local economy” in procurement and having a “buy British” rule for state bodies is a form of Trumpian protectionism. The local economy does best when government wastes the least. If it’s better to procure goods or services overseas then that means more to spend on frontline services at home.

“Britain must not go backward, but onward into a competitive global future.”

For further comment, or to arrange an interview, please contact Matt Kilcoyne via email matt@adamsmith.org, mobile 07904099599, or landline 02072224995.