Michael Gove has declared war on “crony capitalists” who have “rigged the system” in their favour, as he warns that failure to reform will only fuel the rise of far-left and populist movements.
The Environment Secretary said that the Government must address the failure of capitalism in its “current form” by stripping power from a small group who assert undue influence over politicians in order to further enrich themselves.
Mr Gove, who is seen as a potential successor to Theresa May, has called for new forms of taxation and regulation which encourage big business to shift more of their capital into research, innovation for the long-term, rather than short-term profiteering.
He added that the...