Rowan Williams, Archbishop of Canterbury, guest-edits the New Statesman

The magazine will contain contributions from Jonathan Sacks, Maurice Glasman, and Iain Duncan Smith,

This week's New Statesman magazine is guest-edited by Rowan Williams and features contributions by Philip Pullman, A S Byatt, Gordon Brown, Richard Curtis, Jonathan Sacks and other surprise guests.

For this 80-page edition of the magazine, Dr Williams has commissioned a wide range of essays, articles and reports, interviewed a senior cabinet minister and written the leading article.

The issue examines all the complexities of David Cameron's flagship policy idea of the "big society", with analysis and commentary from the Chief Rabbi, Jonathan Sacks, Maurice Glasman and Iain Duncan Smith, among others.

There are contributions from two vicars -- Rev Lucy Winkett recounts visiting a casino in a dog collar, and Rev Mary Bide relives the highs and lows of minding the church next to the tennis courts at Wimbledon -- as well as an actor who plays a vicar on television: Tom Hollander, star of the Bafta-winning sitcom Rev.

There are atheists and secularists in the mix, too. Among the other writers in this bespoke issue of the New Statesman are: Philip Pullman, who explains why he's a "Church of England atheist"; Terry Eagleton on secularism; the award-winning film director Richard Curtis, who writes about the scourge of malaria; and Victoria Coren, who addresses the vexed question of faith versus poker.

The Booker Prize-winning novelist A S Byatt contributes a new short story, "The Lucid Dreamer", written specially for the issue.

Jason Cowley, editor of the New Statesman, said: "I have long admired Rowan Williams as a thinker and public intellectual. His previous contributions to the magazine under my editorship have been both thoughtful and thought-provoking. We agreed that he would guest-edit the magazine over lunch at Lambeth Palace in January; we have been working on the issue ever since.

"Although the New Statesman is a secular magazine, we recognise Dr Williams's contribution to public and political debate, and this is an important intervention from him. I'm delighted with the issue."

Dr Rowan Williams said: "This is not a platform for the establishment to explain itself -- any more than the New Statesman ever is. The hope is that it may be possible to spark some livelier debate about where we are going, perhaps even to discover what the left's big idea currently is."

The issue, cover-dated 13 June, will go on sale in London on Thursday 9 June and in the rest of the country from Friday 10 June. International buyers can obtain copies through our website.

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BHS is Theresa May’s big chance to reform capitalism – she’d better take it

Almost everyone is disgusted by the tale of BHS. 

Back in 2013, Theresa May gave a speech that might yet prove significant. In it, she declared: “Believing in free markets doesn’t mean we believe that anything goes.”

Capitalism wasn’t perfect, she continued: 

“Where it’s manifestly failing, where it’s losing public support, where it’s not helping to provide opportunity for all, we have to reform it.”

Three years on and just days into her premiership, May has the chance to be a reformist, thanks to one hell of an example of failing capitalism – BHS. 

The report from the Work and Pensions select committee was damning. Philip Green, the business tycoon, bought BHS and took more out than he put in. In a difficult environment, and without new investment, it began to bleed money. Green’s prize became a liability, and by 2014 he was desperate to get rid of it. He found a willing buyer, Paul Sutton, but the buyer had previously been convicted of fraud. So he sold it to Sutton’s former driver instead, for a quid. Yes, you read that right. He sold it to a crook’s driver for a quid.

This might all sound like a ludicrous but entertaining deal, if it wasn’t for the thousands of hapless BHS workers involved. One year later, the business collapsed, along with their job prospects. Not only that, but Green’s lack of attention to the pension fund meant their dreams of a comfortable retirement were now in jeopardy. 

The report called BHS “the unacceptable face of capitalism”. It concluded: 

"The truth is that a large proportion of those who have got rich or richer off the back of BHS are to blame. Sir Philip Green, Dominic Chappell and their respective directors, advisers and hangers-on are all culpable. 

“The tragedy is that those who have lost out are the ordinary employees and pensioners.”

May appears to agree. Her spokeswoman told journalists the PM would “look carefully” at policies to tackle “corporate irresponsibility”. 

She should take the opportunity.

Attempts to reshape capitalism are almost always blunted in practice. Corporations can make threats of their own. Think of Google’s sweetheart tax deals, banks’ excessive pay. Each time politicians tried to clamp down, there were threats of moving overseas. If the economy weakens in response to Brexit, the power to call the shots should tip more towards these companies. 

But this time, there will be few defenders of the BHS approach.

Firstly, the report's revelations about corporate governance damage many well-known brands, which are tarnished by association. Financial services firms will be just as keen as the public to avoid another BHS. Simon Walker, director general of the Institute of Directors, said that the circumstances of the collapse of BHS were “a blight on the reputation of British business”.

Secondly, the pensions issue will not go away. Neglected by Green until it was too late, the £571m hole in the BHS pension finances is extreme. But Tom McPhail from pensions firm Hargreaves Lansdown has warned there are thousands of other defined benefit schemes struggling with deficits. In the light of BHS, May has an opportunity to take an otherwise dusty issue – protections for workplace pensions - and place it top of the agenda. 

Thirdly, the BHS scandal is wreathed in the kind of opaque company structures loathed by voters on the left and right alike. The report found the Green family used private, offshore companies to direct the flow of money away from BHS, which made it in turn hard to investigate. The report stated: “These arrangements were designed to reduce tax bills. They have also had the effect of reducing levels of corporate transparency.”

BHS may have failed as a company, but its demise has succeeded in uniting the left and right. Trade unionists want more protection for workers; City boys are worried about their reputation; patriots mourn the death of a proud British company. May has a mandate to clean up capitalism - she should seize it.