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<p>Companies are held accountable by investors, consumers and civil society as well
as governments for the way in which they conduct their operations, including labour
conditions, and how they report on their actions in this regard.</p><p> </p><p> </p><p>
</p><p>Since October 2013, quoted companies have been required to provide information
in their Annual Report about social, community and human rights issues, including
information about any policies of the company in relation to those matters and the
effectiveness of those policies.</p><p> </p><p> </p><p> </p><p>The Department has
negotiated at the European level to strengthen current human rights disclosure requirements
and make them more specific. Provisions have now been agreed that will apply across
all EU Member States from 2017 to large quoted companies and Public Interest Entities.
My Department will shortly be consulting on the transposition of these measures into
UK law.</p><p> </p><p> </p><p> </p><p>Additional disclosure requirements will be introduced
in the Modern Slavery Bill. Big businesses will have to publicly state each year what
action they have taken to ensure their supply chains are slavery free. This requirement
goes further than any similar legislation in the world by applying to businesses regardless
of the nature of a company or what it supplies, whether goods or services.</p><p>
</p><p> </p><p> </p><p>In September 2013, the UK was the first country to publish
a National Action Plan implementing the UN Guiding Principles on Business and Human
Rights. The Action Plan underlines the duty of businesses to respect the human rights
of their employees and those in their supply chains. My Department is taking action
to develop guidance for businesses reporting on this obligation, beginning with the
retail sector.</p><p> </p><p> </p><p>In order to toughen up our enforcement of the
National Minimum Wage my Department has made it simpler to name and shame employers
that break the law on the National Minimum Wage and has increased the financial penalty
that employers pay for breaking the law from 50 per cent to 100 per cent of the unpaid
wages owed to workers. The maximum penalty has also increased from £5,000 to £20,000
and will be applied per worker not per firm.</p>
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