Ben Chu: The Institute of Directors turns 'anti-business'

  • @Benchu_

Outlook British business is badly served by its lobby groups. I often find it hard to distinguish between the press releases from the likes of the CBI and the British Chambers of Commerce and those issued by the Her Majesty's Treasury. That's why it was a breath of fresh air this week to hear Simon Walker of the Institute of Directors breaking this depressing mould with a righteous attack on Barclays and Royal Bank of Scotland for giving capitalism a bad name with their "rewards for failure". It is no use "polishing a turd" by spinning such behaviour as justified, said Mr Walker. To restore public faith in the banking industry the behaviour itself has to change.

Those of us who have been making similar arguments for many years have become used to being tarred as "anti-business". I gather no such pathetic accusations have been levelled against Mr Walker since he made his remarks. That's progress.