SIR – With the general election – or should it be the Brexit referendum in all but name – fast approaching may I suggest those who are still unsure how to vote have a look at a report entitled Principles for Purposeful Business produced by Prof Colin Mayer on behalf of the British Academy which concludes that in Britain we have the most extreme form of capitalism and ownership in the world.

Prof Mayer calls for a fundamental review of what businesses are actually for. He says that “at the moment how we conceptualise business is, it is there to make money. But instead we should think about it as an incredibly powerful tool for solving our problems in the world.” He goes on the say that businesses have failed to deliver benefits beyond their shareholders; the benefits ignoring both Stakeholders and the wider community.

The report proposes a new formula for corporate purposes “to profitably solve problems of people and the planet and not profit from causing problems”.

Yes, the country is at a watershed where not only do we need to re-appraise our role in Europe/the world but how to address the issue of climate change and, more importantly, how those decisions are going to be made.

Mike Levins