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Nick Clegg offers empty rhetoric on responsible capitalism - Umunna
16 January 2012
Chuka Umunna MP, Labour’s Shadow Business Secretary, commenting on Nick Clegg's speech today on the creation of a 'John Lewis' economy, said:
“Ed Miliband and the Labour Party have led calls for a more responsible capitalism that includes fair rewards at the top and bottom of UK companies. But all David Cameron and Nick Clegg have offered on these important issues is empty rhetoric not matched by action.
"Given the Deputy Prime Minister's comments today on opening up and promoting employee involvement in the businesses they work for, why has he and his Conservative colleagues in Government failed to support our proposal to put an employee on remuneration committees? Businesses like John Lewis – which he praised today – have shown that this can be done successfully.
“With the bank bonus season underway it is time for the Government to start to deliver on these issues. That means accepting the recommendations of the High Pay Commission, implementing the Walker Review reforms on City pay disclosure which the previous Labour Government legislated for, and repeating the bank bonus tax to help create up to 100,000 jobs for our young people.”
