Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, what steps he is taking to help improve corporate governance standards among large UK companies.

My department’s upcoming Modernising Corporate Reporting consultation will outline the government’s plans to improve corporate governance reporting, including for large companies, with the programme also giving consideration to the wider corporate governance landscape. The consultation will be published shortly.

Additionally, the Financial Reporting Council (FRC) recently published updated guidance on 'comply or explain' reporting against the UK Corporate Governance Code, recognising the value of flexible governance reporting for quoted companies.