Mr Hilton said: "There is a growing sense that companies that are so big and so dominant - not just in the marketplace but in the way they relate to governments, their lobbying efforts and so on - that they really are above the law.
"In this particular case they have made clear that they were abiding by the law then, when the arrangements caused anger, and now that they have new arrangements.
"The truth is that those of us who really believe in the power of business and capitalism to do good things for society - and I am definitely one of those people - we have really got to make clear to businesses that they have a responsibility to behave in a way that earns public trust.
"Otherwise you are going to see a growing call for policies that actually damage the capacity of business to grow and create jobs and do all the things we want them to do."
Mr Hilton, who after leaving Downing Street in 2012 went to California to lecture and became CEO of tech start-up Crowdpac, said governments had to make it easier for competitors to enter markets.
He warned that Britain must "shine a much stronger spotlight" on the behind the scenes lobbying that businesses do for government and civil servants, and organisations like the European Union to get their way.
Source: http://telegraph.feedsportal.com/c/32726/f/579309/s/4d29680f/sc/13/l/0L0Stelegraph0O0Ctechnology0Cgoogle0C121245360CGoogle0Eseen0Eas0Eabove0Ethe0Elaw0Esays0ESteve0EHilton0Eformer0Eadviser0Eto0EDavid0ECameron0Bhtml/story01.htm