Page 0057

a) Reforming the ways companies and markets are governed

to entrench a longer-term, more sustainable approach,

with a new Companies Act for the 21st Century, so large

companies fully reflect the interests of all stakeholders, serve

the common good and are accountable for their actions

- including an annual Fair Pay report and action plans on

diversity.

b) Making the UK a laboratory for new forms of enterprise, with

a big boost to employee ownership by extending the Liberal

Democrat 'employee ownership trust' scheme.

c) Introducing an extended public interest test for takeovers that

conflict with the national industrial strategy.

d) Challenging the growing concentration of market power -

including in energy, banking and the new 'tech titans' - with

stronger regulation of monopolies, enhanced consumer

protections, greater rights over data and by sharing economic

benefits more widely through an innovative Citizens' Wealth

Fund.

e) Introducing a new 'right to repair' for consumer products,

setting lifetime manufacturing standards and curbing costly

waste and pollution.

f) Harnessing the strength of the public sector balance sheet to

open additional sources of finance for innovative business,

the green economy and vital national infrastructure including

hyper-fast broadband.

g) Helping businesses to adapt to the challenges of the digital

economy, with forward thinking 'automation plans' to prepare

for change and a new approach to potentially disruptive

technology.

3. Create a balanced economy that works for the whole UK by:

a) Devolving more powers on economic development to

cities and regions within England, with enhanced flexibility

on revenue generation and a focus on increasing local

purchasing power.

b) Developing sustainable cities as hubs of growth, concentrated

around skills, housing and healthy environments - with

increased transport connectivity within and between regions

an essential component.

c) Creating city and region integrated economic development 55

DEMAND BETTER

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