Rebecca Long Bailey comment on the Government’s corporate governance consultation
Rebecca Long Bailey MP, Labour’s Shadow Secretary of State for Business, Energy and Industrial Strategy, commenting on the Government’s corporate governance consultation, said:
“The Tories have spent years turning a blind eye to bad business behaviour. Scandals like the failure of BHS and Carillion showed how quickly the future of a company and its workforce can be sacrificed for the sake of a quick buck. The Government should have taken action then, instead of choosing to ignore alarm bell after alarm bell.
“Labour already launched our own review into corporate governance earlier this year and now the Government is simply playing catch up.
“Britain needs change to tackle low rates of investment and productivity growth, and to ensure companies work to address wider problems – including environmental threats, workers’ rights issues, pensions concerns and broader social concerns. Sadly, these proposals do not match the level of detail and action required.”