The government’s promises of economic growth will fail unless it moves beyond slogans and reshuffles to implement substantive structural reforms in tax, planning and infrastructure to provide the certainty and stability needed to attract business investment, says John Caudwell

Our Prime Minister tells us, once again, that his government is focused on growth. The reshuffle has been billed as a “step up a gear”, with ministers chosen for their supposed pro-business instincts.

The new business secretary Peter Kyle kicked off his new tenure in the role by enthusiastically telling business leaders that his goal was to create an environment for Britain to create its first $1 trillion company.

While we all must welcome a doubling down on economic growth, and a desire to start giving businesses what they need to get on with it, I cannot be the only one who feels a frustrating sense of deja vu.

For more than a year now we have heard fine words about stability, investment and a new era of prosperity. Yet growth has barely stirred, investors in Britain are still hesitating, and businesses continue – with good reason in my opinion – to complain of friction and delay.

Growth is not a slogan

Growth cannot be conjured by slogans or reshuffles. Hastily arranged telephone calls to business leaders by the new business secretary are not enough to allay the nervousness many entrepreneurs are feeling. And we’re hardly putting out the welcome mat to........

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