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Companies Bill [Lords]

Several of the objectives, such as looking after the environment and caring about one’s employees, are issues that all good companies would have no difficulty in addressing. Those that experience such difficulty should be put in a position in which it is unacceptable for them to continue in such a way. Of course, it will be argued that any demand generates time and bureaucracy, but there must be a balance. Some companies already do what is proposed, as the hon. Gentleman knows, and they do not make arguments about ticking boxes and excess bureaucracy. There will obviously be some consequences if we take that route, but there will be hidden and unrecognised costs if we do not do so.