Thatcher’s policy guru says children should be taught to set up businesses | Politics | News | EUROtoday

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Children should be taught how to set up their very own businesses, in accordance to Margaret Thatcher’s policy guru.

Sir John Redwood known as on profession advisers to educate younger individuals about the advantages of working for themselves in its place to in search of a job with an enormous employer.

It’s certainly one of a package deal of measures to promote entrepreneurship backed by the previous cupboard minister, who led Lady Thatcher’s Downing Street policy unit.

He mentioned: “We need to encourage more business people to set up and offer new goods and services by creating an attractive environment for business.”

Sir John additionally known as on the Treasury to again free enterprise by reducing company tax.

In a paper to be revealed by the Centre for Brexit Policy, he’ll warn that the UK’s schooling system encourages graduates to search for jobs in massive firms, the general public sector, professions or charities.

The paper says: “Schools need to use business, general studies, and career advice to introduce students to the ways that individuals can work for themselves or join a small company.

“The advantages freedom can bring need setting alongside the traditional advantages of the job in government or large companies.

“Many will find the ability to change things, to develop good ideas, to have direct contact with clients and customers attractive. They will learn that the self-employed can decide when, where, and how they work in ways an employee cannot do.”

Sir John’s paper additionally warns that adjustments to taxation are wanted to revive the UK’s “stagnant” financial system and again Lady Thatcher’s imaginative and prescient of a free enterprise nation.

This contains reducing company tax from 25 % to 15 %, elevating the VAT threshold to £250,000 in order that extra smaller companies are exempt and reducing in vitality taxes to enhance the nation’s waning manufacturing sector.

Sir John mentioned: “We will get the deficit down only if we grow the economy. We will only grow the economy if we reduce tax rates and grow a bigger taxable base.

“We will only get inflation down decisively if the UK invests in more capacity. We need to grow more food, produce more energy and make more goods.”

He additionally known as for an finish to “unnecessary and dysfunctional spending” by the federal government, and urged Prime Minister Rishi Sunak to cancel the northern leg of the HS2 excessive velocity rail line, due to run between Birmingham and Manchester.

Downing Street has refused to touch upon studies that this part of the road may be scrapped, leaving simply companies between Old Oak Common on the western outskirts of London and Birmingham.