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| Time to say boo to the business goose, Mrs May | Time to say boo to the business goose, Mrs May |
| (30 days later) | |
| I can assure you that the majority of business leaders are just as appalled by Philip Green’s and Mike Ashley’s behaviour as those looking in from the outside (Aditya Chakrabortty, Opinion, 26 July). However, I am pleased to say that, as a response to these kinds of scandals, some businesses are deciding to prove their socially responsible credentials and differentiate themselves clearly. | I can assure you that the majority of business leaders are just as appalled by Philip Green’s and Mike Ashley’s behaviour as those looking in from the outside (Aditya Chakrabortty, Opinion, 26 July). However, I am pleased to say that, as a response to these kinds of scandals, some businesses are deciding to prove their socially responsible credentials and differentiate themselves clearly. |
| The B Corp movement (which stands for Benefit Corporation, bcorporation.uk) is a body of businesses that have voluntarily committed to putting societal and environmental needs alongside financial ones with equal priority. We go through a rigorous certification process to give employees and customers confidence that they are dealing with positive, purposeful businesses. | The B Corp movement (which stands for Benefit Corporation, bcorporation.uk) is a body of businesses that have voluntarily committed to putting societal and environmental needs alongside financial ones with equal priority. We go through a rigorous certification process to give employees and customers confidence that they are dealing with positive, purposeful businesses. |
| Currently the movement contains businesses of all sizes, from startups to global multinationals such as Ben & Jerry’s, Etsy and Ella’s Kitchen. What we all share is a view that business can and should play a positive role in the world. | Currently the movement contains businesses of all sizes, from startups to global multinationals such as Ben & Jerry’s, Etsy and Ella’s Kitchen. What we all share is a view that business can and should play a positive role in the world. |
| Theresa May has publicly declared she is committed to making capitalism “work for all of us”. I would urge her to look at the recommendations in the mission-led business review led by the Cabinet Office, where many B Corps have submitted their views on how to make the system fairer for good businesses, and better for customers and employees. Simon McEvoy Three Point Zero, Ely, Cambridgeshire | Theresa May has publicly declared she is committed to making capitalism “work for all of us”. I would urge her to look at the recommendations in the mission-led business review led by the Cabinet Office, where many B Corps have submitted their views on how to make the system fairer for good businesses, and better for customers and employees. Simon McEvoy Three Point Zero, Ely, Cambridgeshire |
| • Aditya Chakrabortty lets off one of the guilty parties too lightly in his excruciatingly honest account of the failures of British business: the politicians who have for the past decade hero-worshipped the class of business entrepreneurs. They have seemed like so many second-rate Ayn Rands in their failure to see anything but good in the class of business billionaires. What is most depressing is their lack of action in the face of countless cases of sharp practice. | • Aditya Chakrabortty lets off one of the guilty parties too lightly in his excruciatingly honest account of the failures of British business: the politicians who have for the past decade hero-worshipped the class of business entrepreneurs. They have seemed like so many second-rate Ayn Rands in their failure to see anything but good in the class of business billionaires. What is most depressing is their lack of action in the face of countless cases of sharp practice. |
| Surely the contempt that both Mike Ashley and Philip Green have demonstrated in their manner towards parliament is justified, in that our parliamentary legislators are afraid to say boo to the business goose. Our current politicians compare unfavourably with their Victorian predecessors, who, in response to financial disasters such as the failure of Overend, Gurney & Company in 1866, which ruined thousands, took action to ensure that such disasters would never happen again. Today’s politicians prefer procrastination and handwringing to effective action. Even when legislative action is taken, as in the reforms of banking practice, the offenders – the banks – are allowed to delay and neutralise any legislation that would eliminate the worst of their bad practice.Derrick JoadLeeds | Surely the contempt that both Mike Ashley and Philip Green have demonstrated in their manner towards parliament is justified, in that our parliamentary legislators are afraid to say boo to the business goose. Our current politicians compare unfavourably with their Victorian predecessors, who, in response to financial disasters such as the failure of Overend, Gurney & Company in 1866, which ruined thousands, took action to ensure that such disasters would never happen again. Today’s politicians prefer procrastination and handwringing to effective action. Even when legislative action is taken, as in the reforms of banking practice, the offenders – the banks – are allowed to delay and neutralise any legislation that would eliminate the worst of their bad practice.Derrick JoadLeeds |
| • “Philip Green threatens to sue” (Report, 26 July), while Theresa May does what? Tackling “irresponsible behaviour in big business” (May) will take far more than stripping one plutocrat of his knighthood or even putting employees on boards. The nitty-gritty of executive pay is determined by remuneration committees, so reform of these is the key. Currently, these may consist of just two or three directors. Employees at every level should be represented and their brief should be to recommend pay within narrower limits for all employees. Chief executive pay of the top 100 FTSE companies is officially at an average of £5m a year and other executives clock up at least six-figure salaries. The reality is far worse because most executives multiply that several-fold through share takes and bonuses. To tackle this inequality, a tax on large shareholders is essential. Modest reforms are mere window dressing.Quentin DeakinTywyn, Gwynedd | • “Philip Green threatens to sue” (Report, 26 July), while Theresa May does what? Tackling “irresponsible behaviour in big business” (May) will take far more than stripping one plutocrat of his knighthood or even putting employees on boards. The nitty-gritty of executive pay is determined by remuneration committees, so reform of these is the key. Currently, these may consist of just two or three directors. Employees at every level should be represented and their brief should be to recommend pay within narrower limits for all employees. Chief executive pay of the top 100 FTSE companies is officially at an average of £5m a year and other executives clock up at least six-figure salaries. The reality is far worse because most executives multiply that several-fold through share takes and bonuses. To tackle this inequality, a tax on large shareholders is essential. Modest reforms are mere window dressing.Quentin DeakinTywyn, Gwynedd |
| • The collapse of BHS is as much a story of a broken system as it is of dazzling personalities (Editorial, 26 July). | • The collapse of BHS is as much a story of a broken system as it is of dazzling personalities (Editorial, 26 July). |
| Monday’s select committee report revealed the prominent role played by British overseas tax havens such as the British Virgin Islands. Coming in the wake of countless corporate tax scandals and the revelations of the Panama Papers, it was the latest demonstration that the international tax system is broken. | Monday’s select committee report revealed the prominent role played by British overseas tax havens such as the British Virgin Islands. Coming in the wake of countless corporate tax scandals and the revelations of the Panama Papers, it was the latest demonstration that the international tax system is broken. |
| As ever, it is poor countries that suffer. Developing countries are estimated to lose $200bn every year to corporate tax avoidance, leaving them deprived of the resources they need to fight poverty. | As ever, it is poor countries that suffer. Developing countries are estimated to lose $200bn every year to corporate tax avoidance, leaving them deprived of the resources they need to fight poverty. |
| The prime minister’s pledge to tackle corporate tax avoidance is welcome but concrete steps must be taken to follow through on this commitment. Bold action is needed to champion fairer global tax rules, tackle UK overseas tax havens and stop companies artificially shifting profits around the world to cut their tax bill.Barry JohnstonActing director of policy, ActionAid UK | The prime minister’s pledge to tackle corporate tax avoidance is welcome but concrete steps must be taken to follow through on this commitment. Bold action is needed to champion fairer global tax rules, tackle UK overseas tax havens and stop companies artificially shifting profits around the world to cut their tax bill.Barry JohnstonActing director of policy, ActionAid UK |
| • Unless you had a mole in BHS for months – Zoe Williams, perhaps, or Rhiannon Lucy Cosslett – you should sign up the anonymous author of Diary of a BHS worker (G2, 26 July). Her account is terrific, hitting exactly the right note of despair and disillusionment. It would be far better than working at Wilko, and the Guardian would get a new voice. I hope you’ve had lots of letters saying the same. | • Unless you had a mole in BHS for months – Zoe Williams, perhaps, or Rhiannon Lucy Cosslett – you should sign up the anonymous author of Diary of a BHS worker (G2, 26 July). Her account is terrific, hitting exactly the right note of despair and disillusionment. It would be far better than working at Wilko, and the Guardian would get a new voice. I hope you’ve had lots of letters saying the same. |
| Next, a confidential account of being Philip Green’s secretary?Judith MartinWinchester | Next, a confidential account of being Philip Green’s secretary?Judith MartinWinchester |
| • Join the debate – email guardian.letters@theguardian.com | • Join the debate – email guardian.letters@theguardian.com |
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