You write that Blackstone boss Stephen Schwarzman is running into “newt trouble” at his £80mn English country estate (Report, August 7).
The story points up the over-regulation of the business community in Britain, where the frequent results are constricted growth and unwarranted bureaucratic power.
Protecting the little amphibians to the extent adverted in the article risks not seeing the forest for the trees.
Even if I am wrong that the critters are probably more resilient than planning rules seem to contemplate, how many great houses would grace Britain’s sylvan acres today had the philosophy of such regulation applied to them?
That many were built, with money flowing down to skilled and unskilled labourers and contractors, is testament to the efficacy of even imperfect markets versus highly interventionist ones. Schwarzman’s intended upgrade would similarly spread the wealth. Add to which many surviving old piles are admired for their aesthetic qualities. Why not his, potentially, in time?
Gary Gillman
Toronto, ON, Canada
