The coronavirus crisis has made people more accepting of huge government spending and unprecedented interventions in the economy, leaving business vulnerable to new regulations and tax rises to repay the record debt, conservative political strategist Sir Lynton Crosby has warned.

To stop new business taxes and red tape emerging, Sir Lynton said executives must focus less on "woke" issues such as diversity and instead prosecute the "very basic issues of business survival – taxes, costs, regulation, productivity and competitiveness."