Corporate Governance

Debate between James Cartlidge and Greg Clark

1st reading: House of Commons
Tuesday 29th November 2016 Commons Chamber

[Greg Clark]

I do not agree with that approach. It is right to have transparency and right that companies engage with their employees and make the case both to shareholders and to the workforce for the choices that they make. However, given our diverse range of companies and industries, it would be a mistake that would be bound to hamper their success if we, in the Government or in this House, were to specify precisely what people should be paid.

[James Cartlidge (South Suffolk) (Con)]

The second question that the welcome document asks relates to improving links between workers and boards. One possible route would be to encourage more employee share ownership. The evidence shows that that encourages productivity and, at a time of pension and housing crises, it would give people a stake in the future and a saving. Above all, it would make them feel that they are part of the business for which they are working.

[Greg Clark]

I completely agree with my hon. Friend. The times when we had very high levels of shareholder participation were ones when there was an enhanced understanding of the importance and role of business. I will take his recommendation seriously and take it forward.

Nissan: Sunderland

Debate between James Cartlidge and Greg Clark

Monday 31st October 2016 Commons Chamber

[Greg Clark]

I thank the hon. Gentleman for his words. I do believe in being active and vigorous and in meeting companies and understanding the challenges that they face; I make no apology for that. My whole ministerial team will be active in securing investments for this country.

[James Cartlidge (South Suffolk) (Con)]

This fantastic news makes us proud of British industry. Does my right hon. Friend agree that many factors make this country attractive to companies such as Nissan? A key one is our competitive rate of corporation tax. Will he ensure that in the coming autumn statement, our rate not only stays competitive, but perhaps gets even more competitive?

[Greg Clark]

My hon. Friend needs to direct that request to the Chancellor—I will pass it on when I see my right hon. Friend in Cabinet tomorrow—but he is right to remind the House that there is a range of attributes and strengths that makes this country attractive to overseas and domestic investors. It is important that, across the whole range, we get them right.