Well, that didn't last long. It has been less than two months since Theresa May announced the end of Cameron-esque kowtowing to the global business elite and hailed a new era of middle-class Conservatism – one that would curb the elite's excesses in order to preserve the public's increasingly fragile faith in the capitalist system. Companies would now pay their taxes, have workforce representation on their boards, and actually train new workers again instead of importing off-the-shelf talent from overseas. In the new Prime Minister's words, the country would be "a Britain where everyone plays by the same rules".

It seems that the corporate bigwigs May had in mind – accustomed to special treatment and already unhappy with the Brexit vote – didn't like the idea of returning to a level playing field very much and have been communicating their displeasure behind the scenes. Because this week the Prime Minister did a complete 180 and stated – tellingly at the CBI's annual conference – that there were going to be no workers on company boards after all.

The current board structure "has served us well and will continue to do so" – the "us" in question apparently having shifted back from the voters to the bosses pretty sharpish.

May's U-turn suggests she's found little support for her policies in her party, which is heavily dependent on donations from these same corporate types. Public concern about executive pay, feeble employee remuneration and widespread corporate tax avoidance therefore continues to be ignored, fuelling the belief that the government can no longer keep big business in check.

Theresa May backs away from 'workers on company boards' plan

An interesting historical parallel (and a guide to the potential pitfalls for politicians) can be found in the very different Britain of the late 1960s. Back then, Harold Wilson, another centrist prime minister, was facing a very similar challenge to Theresa May's today: a growing perception among voters that his party's main donors were enemies of democracy and of the national interest. Only back then the bad guys were the bosses of the major trade unions, not the FTSE 100.

Strange as it may seem today, this was a time when many believed that over-powerful trade unions effectively controlled the government, forcing it to act against the interests of the general population. Wilson knew this, but was facing a divided party (another similarity with May). He therefore requested that Secretary of State for Employment Barbara Castle draw up plans to curtail the power of the union bosses in secret.

The resulting White Paper, 'In Place of Strife', was published in January 1969 – and was effectively dead in the water by June, opposed by the unions, the Cabinet and a majority of Labour MPs. Unimpressed, the voters booted Wilson out of power the following year, while the unreformed relationship between trade unions and government soured further throughout the 1970s. Eventually voters decided they'd had enough: in 1979 they elected Margaret Thatcher to smash the unions for good – and the rest is history.

Theresa May in quotes Show all 10 1 /10 Theresa May in quotes Theresa May in quotes On being described by the former chancellor Ken Clarke as “a bloody difficult woman”: “Politics could do with some Bloody Difficult Women actually” Rex Features Theresa May in quotes On keeping secrets even from her husband: “There are some things I am told that I am not able to confide in anybody” Rex Features Theresa May in quotes On the relentless focus on her appearance during a speech at the Women in the World summit: "I like clothes and I like shoes. One of the challenges for women in the workplace is to be ourselves and I say you can be clever and like clothes. You can have a career and like clothes” Getty Images Theresa May in quotes On comparisons to Margaret Thatcher: “I think there can only ever be one Margaret Thatcher. I’m not someone who naturally looks to role models. I’ve always, whatever job it is I’m doing at the time, given it my best shot. I put my all into it, and try to do the best job I can” AFP/Getty Images Theresa May in quotes On her rebelliousness, or lack of, as a teenager: “I probably was Goody Two Shoes at school” Getty Images Theresa May in quotes On being replaced as chairman by Lord Saatchi and Liam Fox in 2003: “Yes, it takes two men to step into the shoes of one woman” AFP/Getty Images Theresa May in quotes What Theresa May said when she was asked about her political ambitions during an interview with Miriam González Durántez, a lawyer married to Nick Clegg, in December: MD: "My very last question is: that little girl who is somewhere there, is she dreaming of becoming the next British Prime Minister?" TM: "She’s dreaming of carrying on doing a good job in the Home Office" Getty Images Theresa May in quotes On not being able to have children: “I like to keep my personal life personal. We couldn’t have children, we dealt with it and moved on. I hope nobody would think that mattered; I can still empathise, understand people and care about fairness and opportunity” Getty Images Theresa May in quotes On whether she can deliver the mandate of the EU referendum: “I think for party members and indeed for others, I would say look at my record. I think they can see that I’m somebody who gets on with the job, but I’m also somebody who says it as I see it and actually delivers on what I say” Getty Images Theresa May in quotes On the equally relentless obsession with her shoes: “As a woman I know you can be very serious about something and very soberly dressed add a little bit of interest with footwear. I always tell women ‘you have to be yourself, don’t assume you have to fit into a stereotype’ and if your personality is shown through your clothes or shoes, so be it” Getty Images