We should be investing where the public returns are greatest - that is in innovation.

In my view, the state should be active and work in cooperation with private businesses to spur growth that's sustainable and inclusive. The policy process is about co-creating and co-shaping of markets, creating new opportunities for business investment - and negotiating a better deal for the public too.

With a Trump administration we don't know enough yet to make predictions, but if past behavior is any indication, I am not encouraged.

Real median household incomes in the U.S. were basically the same in 1989 as in 2014. But we are also seeing similar challenges in the U.K. in the stagnation of real wages.

Markets are not static entities that are 'intervened' in (for good or bad) but are outcomes of public and private interactions.

Fixing markets isn't enough. We have to actively shape and create them and tilt the playing field in the direction of the growth we want.

Most venture capital funds are too short-termist and exit-driven to deal with the highly uncertain and lengthy innovation process.