It’s an eternal truth that the next leader of the Conservative party is the one you’d least expect. For that reason, don’t rule out Matt Hancock.
For all his clumsy “f*** f*** business” talk in today’s FT, aimed at the lazy and unreliable Boris Johnson, he has alighted on a policy that will actually help employers: reviewing the business rates which are squeezing UK companies, killing our high streets and giving digital rivals an unfair advantage.
They serve as a major disincentive to investment in High Streets, leaving town centres already hollowed out by Amazon and others looking increasingly shabby.
There’s a but, and it’s a big one. Business rates provide £30 billion of easy-to-raise tax revenue. Hancock today would not be drawn on where he’d find the extra money if he were to slash rates, or find a less damaging alternative.
It’s a particularly knotty question because half of the money raised from rates stays with local authorities, who are desperate for funding having seen their government grants slashed.
Hancock had no answer to that, but says he’s committed to reviewing the system. That’s a good start. He is bright and talks genuinely of helping business and enterprise. As far as the people who generate wealth in this country are concerned, that has to put him head and shoulders above Boris.
His lack of experience goes against him; it’s not yet clear how he’d stand up to the challenges of Number 10. Then there’s the bigger question; whether the Tory party will vote for a centrist who has pledged not to pursue a no-deal Brexit.
But at the very least, his pitch is a relief to those of us frustrated at Theresa May’s failure to listen properly to business.
