I'm always a little confused as to why people expect the Government to have supported Acorn more. How many other companies got the great start that Acorn did, some of it at the taxpayer's expense? Frankly, they were given plenty of help. As a private company, it was up to them to produce good products and market them properly. Arguably, the very fact that they'd been given so much support in the BBC era, and saw the education market as 'their' cushy patch, did them few favours in the long run.
My own view is that explicit Government help for private companies is rarely a good thing. Acorn would have been more successful if they'd sensibly marketed their products, pursued fewer pipedreams, been more savvy with licensing their technology (as they did do with ARM, in the end), and been quicker to adapt to changing marketplace conditions. And even then they would have been up against it.