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19/01/2012
Action Not Words On 'Responsible Capitalism'
The Labour Party has criticised a pledge by David Cameron to make capitalism more responsible, saying he would be judged on his "deeds, not his words".
During his speech in London on Thursday morning, the Prime Minister announced a number plans to institute a 'moral capitalism' and to encourage firms to show "social responsibility".
The plans include a Co-operatives Bill, to encourage employees to take a stake in their companies. Co-operatives involve employees becoming major share-holders in their respective companies, and being rewarded more directly on its success.
The prime minister said co-operatives were "the best way of improving public services" and key to "popular capitalism, which allows everyone to share in the success of the market".
But he said there were currently "too many barriers" to setting them up.
Responding to the plan, Ed Miliband said that he welcomed the fact that other leaders were "coming onto the ground that I set out" during his Labour Party conference speech about the need to "tackle predatory capitalism".
"But what I say to David Cameron is, let’s judge you on your deeds and not your words," Mr Miliband said.
He added: "If he is serious about tackling irresponsible capitalism he needs to clamp down on the fact that train companies are ripping people off. If he is serious about tackling irresponsible capitalism he needs to take action to break up the rigged energy market.
"If he is serious about tackling irresponsible capitalism he needs to take action to stop those exorbitant bank charges. That’s the proof that he is really serious about this agenda."
(DW)
During his speech in London on Thursday morning, the Prime Minister announced a number plans to institute a 'moral capitalism' and to encourage firms to show "social responsibility".
The plans include a Co-operatives Bill, to encourage employees to take a stake in their companies. Co-operatives involve employees becoming major share-holders in their respective companies, and being rewarded more directly on its success.
The prime minister said co-operatives were "the best way of improving public services" and key to "popular capitalism, which allows everyone to share in the success of the market".
But he said there were currently "too many barriers" to setting them up.
Responding to the plan, Ed Miliband said that he welcomed the fact that other leaders were "coming onto the ground that I set out" during his Labour Party conference speech about the need to "tackle predatory capitalism".
"But what I say to David Cameron is, let’s judge you on your deeds and not your words," Mr Miliband said.
He added: "If he is serious about tackling irresponsible capitalism he needs to clamp down on the fact that train companies are ripping people off. If he is serious about tackling irresponsible capitalism he needs to take action to break up the rigged energy market.
"If he is serious about tackling irresponsible capitalism he needs to take action to stop those exorbitant bank charges. That’s the proof that he is really serious about this agenda."
(DW)
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Northern Ireland WeatherToday:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
