Wealth inequality – it’s bad for business. Three Things with Liam Byrne, MP
Liam Byrne’s career is a study in the fusion of public service values and business acumen. In a wide-ranging conversation with Jamie Mitchell for the Three Things podcast, Byrne reflects on how his upbringing, education, and professional journey – from a tough Essex school to the heart of government – shaped his political philosophy and fuels his urgent call for a more radical approach to Britain’s biggest challenges.
Political training: At home and in business
Byrne’s sense of duty was forged early. Raised in a family steeped in public service – his parents were student radicals inspired by the Kennedy-era ethos of “ask not what your country can do for you, but what you can do for your country” – he absorbed a strong belief in public service and the pursuit of the common good.
His educational path was far from privileged. Byrne attended a failing comprehensive in Harlow, Essex, where violence and overcrowded classrooms were the norm. He credits “heroic” teachers for steering him back on course after he struggled academically. A single teacher’s persistence in helping him pass maths O-levels became, in Byrne’s words, a “sliding door” moment: “If I hadn’t had that one teacher…I wouldn’t have gone on to do the A-levels that I did. If I hadn’t done well at A-level, I wouldn’t have gotten to university. I wouldn’t have gone on to do the things I did.” Byrne points out that while talent is everywhere, opportunity is not – a lesson he now shares with young people facing similar barriers.
Byrne’s early career choices were driven by the belief that politics needs people with business skills: “We needed people who could fix things, and I think you learn that in business better than you do anywhere else”. Instead of heading straight into politics, he joined Anderson Consulting’s strategy unit and later Rothschild, seeking to understand how the world worked – and, more specifically, how the public and private sectors can collaborate for societal benefit. “I wanted to acquire the skills, the analytical capabilities, the insights, the networks in order to…make a long-term impact on the way our country is run,” he explains.
Reinventing government: The entrepreneurial mindset
As an entrepreneur – Byrne co-founded a tech start-up on graduating business school in 2000 – he learned the value of “hustle as strategy”. He argues that successful entrepreneurs thrive on tenacity, adaptability, and resilience, quickly evolving and doubling down on breakthroughs. Byrne believes these same qualities are essential for effective government ministers.
He credits his rapid rise from by-election winner to cabinet minister (it took just four years) to his entrepreneurial approach. He says leaders like Tony Blair and Gordon Brown, he says, understood the need for this kind of energy and drive to bring innovation into government.
As Minister for Borders and Immigration, Byrne applied entrepreneurial principles: prioritising operational speed and certainty, engaging frontline staff, encouraging experimentation, piloting digital reforms, demanding accountability, and setting ambitious targets measured relentlessly. These reforms brought order to a previously chaotic system, demonstrating that government can innovate and deliver results with an entrepreneurial mindset.
Looking at today’s Labour government, Byrne is critical of its lack of boldness, arguing that only a radical, entrepreneurial reinvention of government can meet the scale of current challenges.
Wealth inequality: Today’s defining challenge
Of all the issues facing Britain, Byrne singles out wealth inequality as the most urgent. He sees it as a self-perpetuating cycle: “Having money allows you to then acquire more wealth. It’s a sort of inherently cumulative process.” For Byrne, the real tragedy is that opportunity is rationed by circumstance, not talent – a reality he experienced firsthand and now seeks to address.
He is adamant that tackling wealth inequality requires more than tinkering at the edges. In his latest book, “The inequality of wealth: Why it Matters and How to Fix it”, Byrne calls for policies that radically expand opportunity, redistribute wealth, and ensure that the benefits of economic growth are shared more fairly.
Crucially, Byrne warns that if left unchecked, rising wealth inequality will undermine the foundations of liberal democracy itself, eroding trust, fuelling division, and threatening the social contract on which stable societies depend. Only a government willing to be bold and entrepreneurial, he argues, can deliver the scale of change required.
_________________________________________________________________________________
Liam Byrne’s Three Things
We always wrap-up by asking guests for their Three Things: simple, practical advice you can use today..
1. Sign up to the Good Business Charter. Don’t just talk about purpose – commit to it. Champion businesses that put people, planet, and long-term value above short-term profit. Be part of a community that’s raising the bar for responsibility in business. Apply at goodbusinesscharter.com.
2. Treat tax as your social contract. Paying your fair share of tax isn’t just compliance – it’s a moral act. Treat tax as your contribution to the society that enables your business to thrive. Be transparent, be proud, and set the standard for others in your industry.
3. Don’t just share the work – share the wealth. Make your employees co-owners, offer profit-sharing, invest in their development, and ensure that everyone benefits from your business’s success. A fairer, more inclusive economy starts in your workplace.
_________________________________________________________________________________
*Byrne’s story is a powerful reminder that the most effective leaders – whether in government or business – are those who combine a deep sense of public duty with the skills and mindset to drive real change.
***
This episode of the Three Things podcast is available to stream on all podcast platforms, and at threethings.io. It is brought to you by the team at All Together, the trusted support network for founders and CEOs. Join or find out more at alltogether.company.
