Michael Heseltine has issued a report in which he urges the Government to stop foreign firms buying up the 'Best of British'. This on a day when a Japanese company buys the firm that makes Branston Pickle. Presumably it bought the name and the recipe. How long will it be before production is switched abroad and the plant in England closed and the workers laid off?
Capitalism as we know it has brought the world to a better place from where it started two hundred or so years ago. It has transformed not only how we see the world but the very world itself in terms of its reach and impact.While some nations remain backward, those at the forefront have taken it to levels where it is surely unsustainable if the world is not to become held hostage to a few mega huge Corporations. The talk should now be of contraction and consolidation; the regeneration of local areas rather than a rush for globalisation. If that is being protectionist then so be it. It's no good having a concept of 'free trade' if the REALITY is all your people are starving for the want of a job! By all means encourage and reward enterprise and efficiency, but let's not throw away all that is best in Britain to a highest bidder who is only interested in profit that will be taxed (if at all) elsewhere.
It is also important that major industries such as Railways, Energy, Defence and Water be taken back into public ownership. These, as I've said many times before, are too important to be left in the hands of companies who'se first priority is the shareholder (Many overseas) profit. Ways must then be found to ensure that the public's interest is properly served by suitable management. To that end I believe that Mr. Branson, if he is interested, could bring experience to bear and to encourage him in this endeavour he should be awarded the East Coast Railway line to run as well as the Western line.