Kay proposals can promote better corporate decision making – but mandatory approach may be needed

date: 23 July 2012

embargo: For immediate release

Commenting on the publication today (Monday) of the Kay Review of equity markets and long-term decision making, TUC General Secretary Brendan Barber said:

'This review provides a welcome recognition of the problems that short-termism is causing for British business and for our future economic growth.

'Many of the Kay Review recommendations could help to promote longer-term corporate decision making and get top pay under control.

'But questions remain as to whether a voluntary approach can achieve the changes in culture and practice the UK needs. The government may have to examine regulatory changes if we don't start to see a real cultural shift.'

NOTES TO EDITORS:

- The Kay Review is available at http://bit.ly/NGqccr

- All TUC press releases can be found at www.tuc.org.uk

- Follow the TUC on Twitter: @tucnews

- Congress 2012 will be held at the Brighton Centre from Sunday 9 September to Wednesday 12 September. Free media passes can be obtained by visiting www.tuc.org.uk/mediacredentials and completing an online form. Applications must be in by noon on Wednesday 29 August. Any received later than that will be processed in Brighton and will cost £50. Please note that the Brighton Centre requires 60 days' notice for telephone line facilities. Details available on the link above.

Contacts:

Media enquiries:
Liz Chinchen T: 020 7467 1248 M: 07778 158175 E: media@tuc.org.uk
Rob Holdsworth T: 020 7467 1372 M: 07717 531150 E: rholdsworth@tuc.org.uk
Elly Gibson T: 020 7467 1337 M: 07900 910624 E: egibson@tuc.org.uk