The Legatum Institute hosted Minister of State for Skills and Enterprise, Matthew Hancock MP, for a small gathering of business leaders on the Conservative agenda for business.
Hancock emphasised the moral imperative for improving the economy and prosperity of the nation’s poorest people. For this reason, the Conservatives support an increase in the minimum wage and changes to the welfare system that promote working and job creation.
The Small Business Bill and the deregulation agenda will simplify legislation with a bias towards businesses that are emerging or don’t yet exist.
Hancock emphasised the success of many businesses in preparing young people for the world of work through traineeships and apprenticeships. The collaboration between charities, civil society groups, schools and the private sector is key to that success; a state-led solution would not achieve the same results.
A rigorous curriculum that teaches financial and IT literacy, and the skills, behaviours and knowledge needed for work is being implemented. From 2014 onwards League Tables will show leaver’s destinations, incentivising schools to prepare young people for university, an apprenticeship or full time work.
The argument for capitalism is not about freedom and wealth creation, but about what is morally right; what is best for our society and future generations.