But he drew back in the Commons from giving an undertaking to put arequirement for social and environmental reportingin the next Companies Bill.
He was responding in the Commons to a call from Ilford North Labour MPLinda Perham, who introduced her own back bench CorporateResponsibility (Environmental, Social and Financial Reporting) Bill theday before.
Blair told her he could not give a commitment in precisely the terms shesought, but added: ‘The issues you raise around social responsibilityare the subject of discussions at the moment between the Department ofTrade and Industry and business.
‘We hope we can make some progress on that, although I would want to doso in a way that minimises any potential bureaucracy or regulation.’
Perham earlier said her bill – which has no chance of becoming law thisyear but could be taken up in the new Parliamentary year starting inNovember – was needed to ensure a level playing field betweenresponsible firms and competitors who undermined the standards for whichthe best companies strove.
It provided to mandatory reporting, a requirement to consult on majorprojects and a right for ‘stakeholders’ to challenge the content andaccuracy of reports.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements