We favour private enterprise for most areas of the economy. However, we believe that natural monopolies such as the postal system and, eventually, the railways should be publicly owned in the form of public corporations.
We believe that private enterprise should be extended to as many people as possible by encouraging self-employment, small and medium-sized businesses, employee share ownership schemes, such as those provided by Marks & Spencer, and full employee partnership, such as the John Lewis Partnership / Waitrose.
We do not approve of the process of Globalisation or the political and economic ideology of Globalism, which advocates the process. However, global and multinational companies are a fact in the modern world. If it were not for Honda and Nissan plants in the UK, we would have a much depleted car manufacturing industry.
If global or multi-national companies wish to sell their products in Britain, the assumption is that they should manufacture their goods in Britain, employing British people.
We would review carefully such practices as transfer pricing, whereby global corporations seek to transfer their profits overseas to avoid paying taxes to the Exchequer.
In the longer term, of course, we should like to re-establish British manufacturing industry, owned by British companies. We believe that British utilities should be controlled by British companies.