Better late than never...

The news that George Osborne has set up a New Enterprise Council is very welcome. The fact that the membership includes a few who have demonstrated enterprise in recently building up small companies into highly successful units is also good news.

It may be that it has taken the recent changes in company taxation, and especially capital gains tax, to prompt Mr. Osborne into action, but it is all the more welcome. It may even lead the confused and hapless Chancellor into revision and improvement.

The fact remains that for too long the Blair smile and Brown luck had deceived "captains of industry"into believing the mantra "Labour is good for business". Many of them still believe this and are willing to enter the big tent or visit "number 10" socially, but proprietors of small companies and would-be entrepreneurs have complained for several years that the burden of regulation and taxation higher than in other countries have been making their hopes unrealisable or very difficult.

Too many good ideas have escaped elsewhere, or have died for want of a conducive climate. We are no longer held back by trade union practices and attitudes, except in the public sector, but we are no longer the largest recipient of inward international investment and small businesses suffer from centralised government.

So, well done, Mr. Osborne! We shall probably not have a situation which fully encourages entrepreneurs, despite Mr. Brown's utterances, until Mr. Brown goes, but perhaps the Tories in opposition can improve the present situation.