Why Theresa May's post-Brexit plan just might work

It's still fuzzy, but it's a good start

British Prime Minister Theresa May could have some effective solutions.
(Image credit: REUTERS/Aly Song)

Britain's recently appointed Conservative Prime Minister Theresa May was propelled to power on the back of the surprise Brexit vote. Her political project going forward, therefore, is to address those populist concerns that put her in office, without gutting the soul of her Conservative Party. This week, in a speech to the Confederation of British Industry (Britain's equivalent to the Chamber of Commerce), May demonstrated that she understands the populist mood that is shaking the West, and has a (still fuzzy) plan to soothe it.

In her speech, May said she wants to "lead the world in understanding the extent to which some people feel left behind by the forces of capitalism." She declared herself a firm believer in the greatness of capitalism, free markets, and businesses, and outlined some vague measures, promises, and announcements that are an odd and exciting mix of the free market and the dirigisme. She reiterated that she wants Britain to have the lowest corporate tax rate in the G20, for example. And at the same time, she wants measures to curb executive pay, encourage worker and consumer representations at the highest levels of companies, spur R&D, and encourage what she calls "patient capital." She also announced that her government would pursue an "industrial strategy."

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