Theresa May’s corporate governance rules tackle the wrong problem

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There are many reasons to be glad that the Tory leadership contest was cut short during that tumultuous month after the Brexit vote. Theresa May’s rapid coronation as Prime Minister stabilised the country and calmed markets.

It also, thankfully, prevented her from making too many foolish commitments about what her government would do to “reform capitalism”. And now, with the publication of the Government’s Green Paper on corporate governance on Tuesday, the rash suggestions she did make have rightly been diluted.

In her foreword to the Green Paper, May declared that her proposals are aimed at “restoring faith in what [businesses] do and in the power of the market economy to deliver growth, opportunity and choice for all”. In reality, they will do no such thing, and nor would the undiluted version that May advocated in July.

Juliet Samuel

 

Posted on by CCKeith in Uncategorized
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