And heralding the City Deals scheme - in which more than 20 cities in England are steadily being given new powers over planning and transport - he suggested this could be a model of a more incremental but still radical approach to calls for a new political settlement in England.
The smart CEOs realize that cost-cutting does not constitute a sustainable business model and will forego temporary incremental moves in lieu of long-term, disruptive moves.
Perhaps a few incremental adjustments are made, mending the tattered fabric of the business model, but rarely rethinking it or replacing it completely.