British Business Needs a Growth Plan, Not Just Centrist Vibes

That premise, in theory, ought to please the business world. For two decades Britain has slouched through stagnant productivity and political derangement, mostly self-inflicted. A Tory movement genuinely determined to make growth and macroeconomic stability the centre of political gravity would be a valuable service.

Yet Prosper’s launch suggests little analysis beyond vibes. Its appeal rests mainly on tone and what it opposes. It is against right-wing populism, against Reform UK, against governmental bombast, and Truss-style fiscal incontinence. It regrets Brexit, abhors net-zero scepticism, and aspires to “credibility”. Yet one is left little the wiser how these ex-Tory MPs think we got here or what, concretely, needs to change.

Does Prosper believe the past decade of Conservative government taxed and borrowed too much, or not enough? Was immigration policy too porous, too illiberal, or badly focused? Does deficit hawkishness require reversing the triple-lock and cutting old-age entitlements, or is more Osborne-era salami-slicing and creeping tax rises the answer?

I’ve seen no policies, only gestures. No introspection that maybe Brexit itself reflected deep discontent with the country, or that anti-growth Tory policies since 2016 have not helped. These guys give the air that Brexit and Truss are intrusive dragons to slay, with David Cameron’s instincts mixed with a bit of Theresa May the salvation.

The group claims to be “pro-business”. But what does this mean? It was Rishi Sunak, in his era of fiscal rectitude, who raised corporation tax to 25 per cent from 19 per cent. Does Prosper endorse that? And if so, how does this help business-led growth? What is their position on the ever-expanding minimum wage Osborne set in motion, or Labour’s employers’ national insurance hike and employment rights agenda?

On trade, Prosper says Britain should reduce barriers with “our closest neighbours and the world’s fastest growing economies”, an unsubtle nod towards deeper EU ties. Yet while re-entering a customs union certainly reduces frictions with the EU, it would raise tariffs on other countries, undermining post-Brexit trade agreements. And what of our financial services sector, for example, which has moved on from EU alignment?

Prosper UK claims it seeks to be “honest about trade-offs and hard choices”. Again, nice words. But it blithely repeats calls for energy that is “clean and affordable”, implying the delusional net-zero “win-win” fairy tale. Of course, if decarbonisation delivered the cheapest power, it would not require vast government support. Prosper, like too many centrists, gestures at trade-offs while assiduously avoiding acknowledging the inconvenient.

Look, it’s early days. We are told policy details will follow. Yet this Labour government shows the limited economic upside of installing self-defined “sensible people” into government. The country needs a supply-side revival of land-use reform to unlock housing and infrastructure, smarter tax policy to reward enterprise, regulatory clarity to spur innovation, and an energy strategy that treats affordability seriously.

That requires more than moderation. It demands the courage to question sacred cows, challenge vested interests, and own the Tories’ own failures beyond Truss and Brexit. The Cameron years ducked supply-side reform despite progress on fiscal discipline. Theresa May’s 2017 manifesto pushed dirigisme on industrial policy and energy price caps. Boris Johnson spent like a drunken sailor. Rishi Sunak lurched from tax rises to various paternalistic gimmicks. None prioritised growth.

If Prosper UK is to be a force for good, it must reckon with the truth that the Conservative Party abandoned rigorous economic thinking far beyond the referendum and mini-budget. Reflexive anti-populism, defensiveness on net zero, and platitudes about EU relations alone will not cut it. Business deserves a real growth focus, not just reheated Cameronism and better manners.