Wednesday 10 June 2026 5:15 am  |  Updated:  Tuesday 09 June 2026 5:17 pm

Instead of picking winners, Peter Kyle should get out of their way

By: Matthew Bowles

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If Britain is to ever produce a trillion-dollar company, it will not be a result of the schemes announced by Peter Kyle and Rachel Reeves this week. It will be a result of creating an economic environment in which ambitious businesses can start, scale, invest and recruit without needing special handouts or assistance from the state, says Matthew Bowles

Peter Kyle, the business secretary, wants Britain to produce its first trillion-dollar company. Few would object to that ambition. A country that has struggled for over a decade with stagnant growth, sluggish business investment and a persistent inability to scale promising firms should be aspiring to generate the change needed to create the next global tech giant. 

To aid this ambition, the government has unveiled a new concierge service for government-selected high-growth businesses. This is designed to help them navigate Whitehall and the tangled web of regulation that might restrict expansion. Alongside this service sits a visa reimbursement scheme intended to help attract overseas talent to some of Britain’s fastest-growing firms.

The above measures reveal a particular........

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