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Peter Kyle has admitted applying a lesson learned from Donald Trump in his approach to boosting economic growth. The UK Business secretary said the government should be ‘positively disruptive’ by taking equity stakes in businesses which are important to economic security, and to fulfil an ambition to help establish the UK’s first ‘trillion dollar company’. The US administration has been described as ‘aggressively’ establishing a strategic corporate portfolio to secure supply chains, boost national security and support emerging technologies. Questioned by the Commons Business & Trade Committee on his appetite for the UK to do something similar, Kyle was asked if he had ‘basically taken lessons from Donald Trump’. He said: ‘I have only taken one lesson from President Trump, in that he moves very fast and he is not bogged down by convention. ‘So President Trump has taken equity stakes and the most free market in the world has started taking equity stakes in companies that they see are important to national life and security, but also where there is growth potential it is also the swiftness with which he moves.’ Referencing the controversial Department of Government Efficiency [Doge] initiated by Trump and overseen by Elon Musk, Kyle said: ‘Now I believe that we can be positively disruptive rather than negatively, and I would argue, if you look at the Doge programme for example, sort of negative disruption there.’ Elaborating on the trillion dollar company ambition, Kyle added: ‘It has been surprising for me that it has been quite a controversial thing to say, and I have seen some sneering and sniping from part of the media sometimes the kind of business parts of the media. ‘Sometimes people are saying well, we are Britain, our economy can’t produce a company of that scale.’ Referencing success in countries such as Taiwan, Japan and the US, Kyle stressed the wider benefits the achievement would provide. He said: ‘Just think about the importance of that. Yes, for wealth creation, but also look at the power it now gives the US when they are negotiating with the world. ‘Imagine if (AI company) Nvidia was a UK country. Just imagine how empowering that would be for me, negotiating on behalf of the UK when we are doing deals [and] the diplomacy that the prime minister could deploy with having a business with that global reach.’ Later questioned on the challenges facing small businesses, Kyle was asked what was being done across government in response to a ‘cost crunch’ which is said to be forcing an average of 38 firms a day to close. Since the small business strategy was published, it has been highlighted that hospitality and leisure companies have faced a 52% increase in business rates, while electricity standing charges have risen by 40% since April. Retail employment was said to have fallen to its lowest four-year quarter average, and small businesses in general are facing a ‘tipping point’, according to the Confederation of British Industry. Responding to the figures, the Business Secretary said: ‘What I can tell you is that the voice of businesses, including small business, hospitality and retail, is heard loud and clear around the table. ‘When it comes to hospitality, I have been straight out there, not just because the constituency I represent is a city for which hospitality and the night-time economy is incredibly important, but also knowing how vital it is for the economy overall.’ He later added: ‘The foundational factor that every business large or small need, but particularly those that are dealing with issues on the high street, they need customers with cash in their pockets that is economic growth. ‘So that is why doubling down on overall economic growth for the country has been so important.’ By Jonathan Bunn, Press Association Political Reporter Press Association: Finance source: PA Copyright 2026 Alliance News Ltd. All Rights Reserved.
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