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Companies Bill [HL]

My Lords, I am favour of Amendment No. 245. I was another of those who was astonished at the outburst from the Conservative Front Bench at the beginning of the debate, which seemed to me to be quite out of proportion. I know that strong feelings have been aroused on both sides of the issue. My sympathies are with those NGOs in the Trade Justice Movement which deal directly with fair-trade sources in developing countries. They have done a lot of work on supply chain reporting. As much as anyone else, they know that it is quite reasonable for the Government to table this amendment now and for companies to make the minimal effort required to report on their contractual arrangements. I say ““minimal”” because this is, as the noble Baroness, Lady Northover, said, a far cry from the original version of the OFR regulations, which were welcomed by all except the Conservative Party and companies, but to which obviously the business community objected. The Conservative Party is trying to bring itself up to date and get closer to non-governmental organisations in civil society and real people. It would be making a great mistake if it did not recognise the direction that many international companies—large and small—are taking towards ethical responsibility worldwide for their own economic as well as moral and public relations advantages. This amendment is only one detail in that process. Will the Minister confirm that there will be a full consultation on the reporting standards generally in two years’ time, as I think a Minister in another place has suggested, and that there will be a full review of those arrangements?