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Companies Bill [Lords]

I do not want to pre-empt tomorrow’s discussion on the business review aspect of the Bill, but I believe that the majority of companies would welcome the opportunities in the business review, which will enable them to report their activities. There must always be a balance between incentive and regulation in the framework in which we expect companies to operate. However, a company does not exist in isolation and its value is much more than its capital and the way in which it uses that. A company must take into account its value, brand and reputation. That will apply increasingly as investors and consumers become more sophisticated about the way in which they get involved.