Corporate Governance Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Viscount Hanworth
Main Page: Viscount Hanworth (Labour - Excepted Hereditary)Department Debates - View all Viscount Hanworth's debates with the Department for Business, Energy and Industrial Strategy
(5 years, 2 months ago)
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Lord Henley
My Lords, I do agree with my noble friend. I think that she will agree that we have done a great deal on corporate governance ever since we published the Green Paper in 2016, and there is the work done by the FRC and others right up to publishing and bringing into operation the new code in January of this year.
Viscount Hanworth (Lab)
My Lords, our failure in corporate governance has enabled the City of London to consign many of our utilities and industries to foreign ownership. Are the Government doing anything to staunch this haemorrhage?
Lord Henley
My Lords, I did not say that there has been a failure in corporate governance, rather that it is right that the Government should be doing what they have been doing; hence the work of the FRC on the corporate governance code and the work instituted by the Government when we published our Green Paper back in 2016, for example.