Carolyn Fairbairn, CBI Director-General, welcomed the Prime Minister's speech at the Conservative Party Conference.
“The CBI supports the Prime Minister’s vision of a fairer society, with more inclusive growth underpinned by good business and great jobs,' she said. “Government action can help make this vision a reality and must be developed hand-in-hand with industry – a new partnership as the bedrock of a new economy.
“Firms will welcome the recognition that the UK has thousands of companies who are great employers and put their customers first. These companies have long recognised that trust and strong relationships are the foundations of success and demonstrate this every day. They are the majority. But there are exceptions and more needs to be done to tackle examples of unfairness and bad practice.
“The CBI welcomes the Government’s consultation on business practices and will take this opportunity to understand and respond to the true concerns of society.
“Government must build on the great things so many firms are already doing and not impose approaches that look good on paper, but don’t make a difference in practice. Placing workers or consumers on boards can be a solution for some firms, but may not be the only or even best way of changing company culture.”