Why I still think importing Chapter 11 is a bad move

Today is one of those days when I had a Tom Harris moment and realise the perils of blogging. I checked PoliticsHome (as I do pretty much ever hour) to see that I was referring to “Cameron’s ‘disastrous’ left-wing business plan.” Hardly a wicked distortion of what I wrote – but not what I meant either. For the record, I don’t considerer Cameron’s entire business plan to be intrinsically left wing. I was referring only to the introduction of a Chapter 11-style insolvency law to Britain, which I oppose. I also believe that in proposing it Cameron is positioning himself to the left of Labour. I consider this to be significant, like his NHS plans and his proposal to tax non-doms.

As always, CoffeeHousers make intelligent criticisms. Mark says there is a balance to be struck between protectionism and letting banks and lawyers devour companies for the smallest blip. I agree, and consider the government’s current balance to be correct.