Jo recently took part in a panel discussion for RSA on whether Britain be an Industrial Powerhouse in the 21st Century?
In his comments, Jo admitted that policy tools for ministers are limited. But he added that: "The Government is very effective at getting out of the way of business. Corporation tax by the end of the parliament will be the lowest in the G7 and in the OECD; the Government is trying to work on the supply side of the economy like no other government before it in terms of the labour markets - improving access to capital; raising standards in education and skills; and we're also doing a lot on the deregulation agenda too - both on the flow of regulation and on the existing stock of regulation.
"If you're going to look for a slogan, industrial policy today has to be about partnership not planning.... Government's role is going to be as a facilitator and as a convenor, rather than as a body that through some central agency creates a sort of replica of the 1965 economic plan."
To watch the full debate click here