The Free Enterprise Group is a leading association of free-market orientated Conservative Members of Parliament. Convened by James Cleverly MP, FEG seeks to restate the importance of liberal and practical free enterprise values against the backdrop of a significant loss of confidence in free market economics following the banking failures of the late 2000s. Founded by the Rt Hon Elizabeth Truss MP, now Secretary of State for Justice, FEG is supported by over 40 MPs who want to put free enterprise at the heart of the Conservative Party.
The group’s objectives are to:
- Encourage a competitive and free economic environment
- Raise the global economic standing of the United Kingdom
- Challenge monopolies and oligopolies
- Free individuals to create, innovate and take risks
“Five years ago, the Free Enterprise Group was formed from amongst the then new intake of Conservative MPs. The 2010 General Election was run against the backdrop of an economic downturn, recent banking failures and a significant loss of confidence in free market economics.
“The new intake of 2015 come to Parliament at a time when the UK’s economy is improving but still fragile; banks have stabilised but are still distrusted, and regular protests against capitalism and free markets are the norm. Additionally, global political and economic instability, revolution and terrorism are never far from the front pages. It is as important as ever that liberal, free market principles are restated and practical free enterprise policies proposed to the new Conservative government.”
– James Cleverly MP, 2015
“Britain’s success has been built on free enterprise. Yet Britain is now 83rd in the world for regulation, 94th for taxation and struggling to compete internationally on education and infrastructure. In many emerging economies markets are viewed as a source of liberation; in Britain they are regarded with scepticism. In the minds of the public the market is decoupled from meritocracy. Liberal economics have been blamed for everything from excessive bankers’ bonuses to misguided monetary policy.
“Conservatives need to recast the argument about free enterprise for a new age, or risk losing the debate to a tide of anti-market socialisation. That’s why a new group of Conservative MPs “The Free Enterprise Group” has formed.”
– Rt Hon Elizabeth Truss MP, 2011
All supporters subscribe to the aims of the group; however articles written under the auspices of the group are the author’s own and do not necessarily reflect those of all group members.
Administrative and research support for the group is supplied by the Institute of Economic Affairs (IEA). This does not imply endorsement of the group’s statements by the IEA or endorsement of IEA statements by the group.