He said: “We need to do more to improve the supply side of the economy. This means taking on difficult vested interests.”
But of course it\’s not just the unions and the planning system that need that reform.
The whole damn system of regulation needs to be shaken up.
Just as an example, it is illegal to manufacture apricot marmalade for sale. It\’s an EU thing, quite where compotes come in preventing Germany from invading France again I\’m not sure. But that is the system we\’ve now got.
I\’m also not quite sure where the freedom to manufacture and offer for sale apricot marmalade would come in the pecking order of things that would boost growth: not very high up I suspect.
But it is an example of the way in which the precautionary principle, allied with the continental style of civil or Roman law, has taken hold. You are deliberately prevented from doing new things because the rules say you must have permission to do new things.
Which is rather a dampner on innovation and innovation is the key to long term growth.
We need to return to an older legal structure, that of the Common Law. You may do anything that isnot illegal, not our current system of prescribing what is legal for you to produce. Yes, this does mean entirely overturning the precautionary principle.