The government must stand up for British businesses

The British government has forgotten how to stand up for British business, says Matthew Lynn. BP is just the latest, most glaring, example.

The rhetoric has been disgraceful. Over the last month, as oil spilled into the Gulf of Mexico, President Barack Obama has been condemning BP as if the oil firm had planned the spill from the start. The US's own role in creating the crisis by refusing to control its own oil consumption, and by insisting that more of its energy is supplied from within its own territory has been glossed over in a series of anti-foreigner tirades.

But the response hasn't been much better. David Cameron and the foreign secretary, William Hague, have been about as firm as a lettuce caught in a thunderstorm. The British government has forgotten how to stand up for British business. BP is the latest, most glaring, example.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
Matthew Lynn

Matthew Lynn is a columnist for Bloomberg, and writes weekly commentary syndicated in papers such as the Daily Telegraph, Die Welt, the Sydney Morning Herald, the South China Morning Post and the Miami Herald. He is also an associate editor of Spectator Business, and a regular contributor to The Spectator. Before that, he worked for the business section of the Sunday Times for ten years. 

He has written books on finance and financial topics, including Bust: Greece, The Euro and The Sovereign Debt Crisis and The Long Depression: The Slump of 2008 to 2031. Matthew is also the author of the Death Force series of military thrillers and the founder of Lume Books, an independent publisher.