Introduction

BY THE TIME he was thirty-nine, Nigel Vinson had achieved what many strive to achieve by the time they are sixty. He had created and built up a successful company and made enough money to retire, although it is unlikely that so active a man was ever tempted to do so. Despite not possessing a single technical qualification he had also established a reputation as an original thinker of ideas as well as new products, which is why he continues to be described in his passport as 'inventor'.

Plastic Coatings, the company he founded in 1952, was one of the first to find the technical means to apply a coating of plastic to metal and to recognise the huge number of uses that this would have. Over the next fourteen years his workforce increased by some 20 per cent a year; by the time the company was successfully floated on the London Stock Exchange in 1969 it was the largest of its kind in Europe, employing over 1,000 people in five different UK locations. Vinson had always disliked large-scale production units and hated the then fashionable belief that big was beautiful.

The company, which he had started in a single Nissen hut in Guildford seventeen years earlier with one employee and a secretary, was now a substantial concern and set to grow still larger.

In the past, Vinson had welcomed every new employee with a handshake, if possible on his or her first day. Developing employment policies, which were far advanced for their time and subsequently copied by others (and now would be called Quaker Capitalism), he had systematically eliminated the distinction between 'workers' and 'staff'. But the company had grown to the point where it was no longer possible to maintain the same level of personal involvement. When, to use one of Vinson's favourite phrases, it was no longer possible 'to walk the ship', he realised that life was not going to be as rewarding as in the past.

At the company's flotation, he remarkably gave 10 per cent of the proceeds to the workforce in the form of share options in recognition of their contribution to the company's success. Two years later, while still owning 54 per cent of what was then a public company, he agreed to sell his majority holding to Imperial Tobacco who were looking to diversify, continuing as chairman until they were satisfied that the business had settled down under its new management. No contract was deemed necessary - a handshake was sufficient to seal the arrangement. Vinson, a non-smoker, turned down a place on the Imperial Board. Having ceased to walk the ship, he walked away, explaining to friends that he saw no point in spending the rest of his life amassing wealth for its own sake.

Vinson's subsequent career, which has been no less remarkable, reflected a desire to play a role in public life and, if possible, try to find answers to the economic and political problems that confronted Britain in the 1970s. By seeking the wider application of ideas that he had developed when running his own company, and by helping or funding others, Vinson believed he could make a useful contribution in reversing Britain's economic and political decline. His enormously practical nature, great energy and infectious enthusiasm meant that there was no shortage of such requests; he was quite clearly a man who could make things happen - and he remains so even in his eighties.

As a young businessman, he had concluded that free enterprise was by far the best means to generate wealth and that the increasing scope of the state in seeking to own, regulate or control economic activity was inimical to economic growth and to liberty. He had come to appreciate that the market order was important in ensuring the existence of multiple sources of patronage for the artist, social reformer and inventor. And he also concluded that the wider ownership of wealth was essential if both its material and non-material benefits were to be more widely understood. His desire to ensure the wider diffusion of economic power was to remain a lifelong preoccupation.

Recognising that the radical policies needed to reverse Britain's decline could not be introduced without a fundamental change to the prevailing intellectual climate, Vinson assisted those engaged in an attempt to reverse the direction of political and economic thought in this country. He was invited to join the board of the Institute of Economic Affairs (IEA), which, under the leadership of Ralph Harris and Arthur Seldon, was to acquire a justified reputation as the most successful free-market think tank in history, helping to fund it at a time when money was in short supply. Twenty years later he was chairman for seven years and he has supported it throughout his lifetime. The IEA transformed the climate of economic opinion in Britain and beyond. Sir Alastair Burnet, editor of The Economist and a prominent neo-Keynesian, offered first-hand testimony of the process of how intellectual conversion was carried out:

They came it seemed like spies in the night . They were polite, even courteous, plainly intelligent fellows who enjoyed an argument. Only after a bit did it become apparent that they usually won their arguments. The well-drilled ranks of us Keynesians began to suffer uncomfortable casualties. The Butskellite regiments, entrenched in the ministries and universities, had severe butchers' bills. The intellectual concussion caused by the IEA conducted by Ralph Harris and Arthur Seldon . upon the body politic and economic was cumulative and, eventually, decisive.

Vinson went on to help Margaret Thatcher and Keith Joseph found the Centre for Policy Studies (CPS) which took the arguments for the market economy more directly into the political arena, playing a major role in its activities. Recognising the centre's role in changing the direction of modern British political history, Mrs Thatcher said later: 'The Centre for Policy Studies was where our Conservative revolution began.' When Vinson resigned as the centre's honorary treasurer in 1980, Thatcher acknowledged that its achievements would not have been possible without his involvement.

As chairman of one of the CPS study groups, Vinson was directly responsible for proposals resulting in reforms that enabled company employees to take their pensions with them without penalty when changing jobs; he can also take credit for the ideas behind Pension Equity Plans (PEPs), as well as for the Enterprise Allowance scheme, which gave financial support to unemployed people to start their own businesses. Many Cabinet ministers have left office without achieving nearly as much.

Despite his growing influence and contribution to public life over four decades, and his elevation to the peerage in 1984, Vinson's name remains largely unknown to the public. This is partly because he does not seek the limelight and does not relish being continually in the public eye, and partly because - although offered a junior ministerial post, which he turned down - he has not held elected office. It is also a reflection of the fact that much of his time, as well as a great deal of his personal wealth, has been expended on helping others without seeking attention for himself. Nigel Vinson occasionally moves from centre stage in this account of his achievements because so much of what he has done has been accomplished through mobilising others, supporting them, motivating them and doing all he can to ensure that their contributions were acknowledged and rewarded.

Those he has helped have included not just think tanks, but pressure groups, campaign bodies, charities, libertarian causes (although he is not a libertarian in the accepted sense of the term), organisations promoting the arts and crafts, educational projects, wildlife protection groups (including those for salmon stocks in the North Sea and the survival of songbirds), as well as support for writers, scholars and numerous other individuals. As with most good deeds, the result has been a ripple effect as the consequences of his actions have extended far beyond the original recipients. Since Vinson has targeted his charitable giving wisely, the impact of his generosity has been beneficial as well as pervasive. Although running into the millions, it is difficult to quantify the extent of his philanthropy in financial terms: he has never seen the point in adding up the sums he has given to charitable and political causes, or the still larger sum he has raised for such purposes from others.

In the Lords, Vinson established a reputation as a highly conscientious, independent-minded Conservative peer with a deep understanding of the problems of industry, ranging from small firms to nationalised industries, as well as an acute awareness of the unintended consequences of regulation - the result of his directorships of the British Airports Authority and the Barclays main board.

Increasing scepticism about the value of Britain's membership of the European Union, for which he had voted in the 1975 referendum, led him to put down a series of questions about the costs of EU membership. By the time of the Maastricht Treaty in 1992, he had concluded that the economic and political costs of membership were excessive and that the very nature of the European project meant that it could never be fully democratically accountable. As chairman of the Better Off Out Group from 2008-11, he warned in August 2012 that, unless the Tory leadership took steps to repatriate powers from Brussels, he would resign the Tory whip and join UKIP. He also funded a serious study by Ian Milne to provide a rigorous cost benefit analysis of UK membership.

The wide diversity of Nigel...