What about the Tories?
Sir: What are the known facts and policies upon which Mr Geoffrey Rippon expects business leaders to speak out politically, chiding us for our failure to do so?
1 am no devotee of either the Labour Party or the present Government but at least we know where we are on a number of issues of policy concerning the immediate situation and, moreover, about many of the Labour Party's longer-term aims and intentions. I am not convinced that we can say the same about the Conservative Party. The Labour Party is dedicated to the further nationalisation of certain key industries and will pursue that aim as singlemindedly as they can, as soon as the economy provides them with the financial elbow room needed.
What about the Conservative Party? Where does the Conservative Party stand on nationalisation ?How many business leaders could answer the question, which strikingly illustrates the Tories' failure to communicate? Do they intend if returned to power to de-nationalise all companies nationalised since 1945? If not, do they propose to maintain the status quo and set some kind of commercial yardstick against which these industries will be required to perform? Turn to the question of the nationalisation of the four or five major clearing banks. What do the Conservative leaders think about that? We do not know, despite the fact that, potentially, the Labour Party's policy statement on this matter could be one of the most decisive influences upon investment and confidence in sterling and may already be so. Would at least that we knew what Conservative leaders think about this matter. Would that we business leaders had some guideline thoughts upon which we could comment or offer constructive criticism. We cannot do so because none has come from anyone. Now turn to the small businessman, that stalwart supporter of the Conservative Party, the most reliable source of its finance as well as the most constant reservoir of unpaid help. What has the Conservative Party to say to him? Indeed, if returned to power, what will this party do to combat the power of the state and back private enterprise? After hunting through countless policy speeches I cannot recall any clearly stated encouragement for the small businessman.
Tragically (for the Conservative Party) the only memorable Tory comment about capitalism—which sticks in the mind and in the gullets of many businessmen—was made by Mr Edward Heath when he was Prime Minister; and when in his cabinet sat Mr Peter Walker, erstwhile friend and colleague of Mr Jim Slater and with him co-founder of Slater Walker: 'the unacceptable face of capitalism.'
The Labour Party communicates to its followers and to us who listen but do not necessarily agree with what we hear. But at least in doing so the Labour Party lets businessmen and women know the score, and nothing generates confidence in the business community as much as knowledge of what is going to happen, however unpalatable. And so far as Mr Rippon's criticism of business leaders is concerned, we will have plenty to say when Tory leaders first tell us what the party is going to do. Until then, they might have the sense not to ridicule those whom the party needs so desperately.
But what they tell us had better be good, detailed and realistic. Neither the business leaders nor the general public are likely to forgive politicians again if we are offered a false prospectus from party leaders just to ensure that either one side or the other gets hold of or retains the levers of political power.
The law rightly punishes any businessman who, through offering a false prospectus, tricks the general public into investing in his company. Politicians who do the same in future will be buried in the avalanche of verbal if not other bricks that will be hurled at them. The tragedy is that so probably will democracy.
John Lidstone Marketing Improvements Ltd, Ulster House, Ulster Terrace, London NW1
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