On Thursday 19 June the SA Chamber of Commerce UK was part of a small group of business leaders that took part in a breakfast roundtable with Matthew Hancock MP, Minister of State for Skills and Enterprise. Mr Hancock discussed “A Conservative Agenda for Business” as part of the Institute’s ongoing Business Forum initiative.  

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.

Article originally published by the Legatum Institute on 19 June 2014.  

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