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with
Chuka Umunna MP, former Shadow Business Secretary
Sir Vince Cable, former Business Secretary
Richard Fuller MP, member of BEIS Select Committee
Robert Hodgkinson, Executive Director, ICAEW
Aimee Donnellan, Banking Correspondent, Sunday Times
Jake Sumner, Senior Associate – Industrial Strategy, ResPublica (Chair)
The UK is recognised as having a world-leading corporate governance framework, but domestic scandals regarding the ownership, management and conduct of businesses – ranging from retailers to football clubs – have called this into question. The Prime Minister’s pledge to hold the private sector to account is at the heart securing an economy that works for everyone. Getting corporate governance right will be fundamental to promoting virtuous practice, spreading ownership more widely, increasing productivity, and strengthening the UK’s competitive advantage. But this will entail moving beyond simply consolidating existing arrangements and improving shareholder engagement on executive pay.
ResPublica was delighted to be joined in Parliament by Chuka Umunna MP, former Shadow Business Secretary, and Sir Vince Cable, former Business Secretary, to discuss the way forward for corporate governance in the UK. Ahead of the Government’s response to its Corporate Governance Green Paper; during the consultation of the Industrial Strategy Green Paper; and ahead of Government triggering Article 50, the event came in a vital period for shaping the future of the UK’s domestic economic policy.
Jake Sumner, the Chair and ResPublica’s Senior Associate – Industrial Strategy, has written his reflections on the event and the broader governance climate here.
Highlights
A full house for our @res_publica and @ICAEW Corporate Governance event in Parliament. @Phillip_Blond giving opening remarks #RPBusiness pic.twitter.com/UTfyO7Ifue
— James Noyes (@JRANoyes) February 21, 2017
We have an economic system which is not delivering for enough people in our country, @ChukaUmunna tells @res_publica @ICAEW #RPbusiness pic.twitter.com/a6LP4XbRth
— Stuart Macnaughtan (@smacnaughtan) February 21, 2017
ResPublica has been ahead of the game on this agenda, and recent changes are testament to their influence – @ChukaUmunna #RPbusiness
— ResPublica (@res_publica) February 21, 2017
This morning, DeHavilland is hearing from @ChukaUmunna, @vincecable & @ICAEW at @res_publica event on #corporategovernance! #RPbusiness pic.twitter.com/phZdbKB0yH
— DeHavilland (@DeHavilland) February 21, 2017
Labour market reform should be central to the industrial strategy, says Richard Fuller, given its obviously a crucial issue of next 20 years
— ResPublica (@res_publica) February 21, 2017
Great summary from Richard Fuller MP – there’s a chill wind in the corporate world as the social contract that has held sway begins to break
— ResPublica (@res_publica) February 21, 2017
Political parties should have continuity. 1 of disappointing things about this gov is ind strat. We are starting from scratch @vincecable pic.twitter.com/llD0QkLVCW
— Aimee Donnellan (@aimeedonnellan) February 21, 2017
Good meeting @res_publica and @ICAEW on #corporategovernance. Coalition reforms positive but need tough action on executive pay greed.
— Vince Cable (@vincecable) February 21, 2017
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