Corporate Governance: Reform

(asked on 12th June 2025) - View Source

Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, whether he has made an assessment of the potential impact of changes to corporate governance law on economic output.


Answered by
Justin Madders Portrait
Justin Madders
Parliamentary Under Secretary of State (Department for Business and Trade)
This question was answered on 20th June 2025

Non-financial reporting information is a vital part of the UK’s corporate governance framework. The Government has committed to review non-financial reporting in order to reduce burdens on business and has already made legislative changes that will save companies £240 million per year.

This work is ongoing and the Government will publish a further consultation later this year.

The Department supported the Financial Reporting Council in revising the UK Stewardship Code. The new Code reduces reporting burdens and early estimates suggest that signatories to the Code may be able to reduce reporting volume by 20-30% while maintaining reporting quality.

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