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The Government has - in the words of MU general secretary John Smith - given the industry "a slap in the face".
Senior executives now concede they need to look at how they engaged with government on the term issue and see what lessons can be learned.
"If the industry is smart, it will look back and take stock," says one lobbyist. "There is a view we have got to look at how we represent ourselves as an industry, because we are not getting the right results."
Few are willing to start a blame game, but from the very start the industry appeared to be on the back foot. When Andrew Gowers announced the start of his Review in February 2006, some observers had expected the industry to have a wad of incontrovertible research already prepared at its fingertips. That was not the case.
Submissions from industry bodies - BPI, Aim, PPL and others - to the Gowers Review team was done in a piecemeal way. This was inevitable because of the different vested interests and shades of opinion at ...