Asked
What plans his Department has to reform corporate reporting requirements to support economic growth and competitiveness.
Reply
The government has announced plans to modernise and simplify the corporate reporting framework and expects to publish its Modernising Corporate Reporting consultation shortly. The consultation will consider financial, non-financial, remuneration and corporate governance reporting, as well as options to drive greater digitisation. The proposals are intended to ensure the UK has one of the most proportionate, internationally competitive and investor-focused corporate reporting frameworks in the world. An improved framework creates the conditions for well-functioning markets and thereby drives economic growth.