When UK citizens go to the polls on July 4, Labour is widely expected to win by a landslide, which will mean changes are anticipated in many sectors. What has Labour pledged to do about tackling the issue of modern slavery and supply chains?

What is modern slavery?

Modern slavery is the term used to describe some of the world’s worst forms of exploitation, including human trafficking, domestic servitude, child labour, debt bondage, forced marriage, sexual exploitation and more. It is estimated that as many as 40 million people are now trapped in modern slavery worldwide, more than at the peak of the transatlantic slave trade in the 1800s.  

A number of countries have enacted tough legislation to combat modern slavery in the corporate world by increasing transparency in companies’ supply chains.

Modern slavery acts in the UK, EU, US, and other countries around the world require large companies to publicly disclose information about their efforts to eradicate human trafficking and slavery within their supply chains. These statements must include a report of the steps taken during the past financial year to ensure that these human rights violations are not taking place in any part of the business or its trading partners. It is expected that a growing number of countries will adopt similar legislation in the future. 

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When UK citizens go to the polls on July 4, Labour is set to win by a large margin. What are Labour’s plans for public sector equality and diversity tracking requirements?

The Equality Act 2010 includes the public sector equality duty. This requires public bodies, including education institutions, to:

  • Prioritise the need to eliminate discrimination, harassment, and victimisation
  • Advance equality of opportunity
  • Foster good relations between people with different traits listed as protected characteristics

As part of Labour’s plans to end pay discrimination at work, Labour pledges to strengthen Equality Impact Assessments for public sector bodies. 

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Labour has criticised the Conservative party for taking the UK’s financial services for granted. Here’s how it plans to manage one of the country’s most successful sectors

The July 4 election’s projected landslide victory for the opposition Labour Party means that it’s likely that many things are going to change in the UK. Among that is the financial services sector, mainly because Labour has released details of its plans for that sector if it moves into #10 after the fourth.

As the Labour party notes, the financial services sector is one of Britain’s success stories. It contributed 12% of the UK’s economic output in 2023. It drives economic growth and job creation. The party states that championing the UK’s role as a global leader in financial services will support its mission in government to secure the highest sustained growth in the G7, with good jobs and productivity growth across the country. 

Labour’s plan involves streamlining some of the Financial Conduct Authority’s (FCA’s) rules and getting rid of overlapping ones. It will create a “Regulatory Innovation Office” that could help regulators share data, and monitor the financial watchdog’s work.

It plans on more consumer protection and regulation in the payday loan and buy now, pay later consumer credit market. Private finance will be required to align investments with the goals of the Paris agreement on climate change, more backing for credit unions, and a pledge to maintain high international financial standards.

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The UK’s general election has been set for July 4, with Labour predicted to win by a landslide. Labour have promised to crack down on tax evasion. 

The tax gap in Britain, i.e., the gap between tax owed and tax paid, stands today at £36bn. Labour believes that the current government has no plan to bring it down and that the deterrent effect of prosecutions and pilates is too weak, with falling numbers of criminal investigations for tax evasion. Also, Labour says that the current government’s plans to digitise the tax system for the modern age are floundering.

The current government only has plans to recover £1bn a year in outstanding tax debt, even though the head of the National Audit Office says that there is £6bn annually that could be recovered if there were a concerted effort on tax compliance.

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A new Labour government has committed itself to protecting people at work. We look at what that means

The UK is going to the polls on Thursday, July 4 in what is projected to be a landslide victory for the opposition Labour Party and likely a defining election. Changes are anticipated in many sectors and that includes workplace’s health and safety regulations.

Not least because Labour has released its Plan to Make Work Pay: Delivering A New Deal for Working People. In it, the party says it wants to support working people by improving their terms and conditions and ensuring protections at work. They contend that the Conservative party failed in these efforts and they plan – if they win – to deliver the “biggest upgrade to rights at work for a generation.”

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With the UK going to the polls in a general election on 4 July, all polls are pointing to a Labour government. Economic crime is likely to be very high on Sir Keir Starmer’s agenda. In fact, seeing the UK as a haven for dirty money has been one of the guiding principles of Labour throughout the last 14 years of opposition.

If Labour form the next government, economic crime is likely to form the backbone of initial legislation given the unending criticism of the UK’s role in the ‘global laundromat,’ which London was called by shadow foreign secretary David Lammy.

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The Equality Act 2010 works to protect people from discrimination in the workplace (as well as in wider society). The act pushes for a consistency across the business world so that employees and employers all comply with the laws to create fairer workplaces up and down the country. Under the Equality Act, it is illegal to discriminate against someone because of “protected characteristics”.

These are a set of identifying traits that are protected by law and include age, disability, religion, race, sex and sexual orientation among others.

The UK’s general election has been set for July 4, with the polls strongly leaning towards a Labour government. What will the implications of a Labour government be for the Equality Act?

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If the poll predictions are correct and Labour forms the government after the general election on 4 July, one key area for change will be corporate governance. We’re already expecting a raft of new compliance regulations to fight economic crime and fraud, but Labour have pledged to go further and reform the operation of companies themselves.

The Conservative government had pledged to shake up the audit and corporate governance in the wake of various corporate scandals, such as those involving coffee shop chain Patisserie Valerie and contractor Carillion. A report by Sir John Kingman in 2018 outlined over 80 recommendations to review corporate governance. Chief among these was to replace the Financial Reporting Council with a much more powerful boardroom watchdog, the Audit, Reporting and Governance Authority (ARGA), and tighten regulation on hundreds of more private companies as ‘public interest entities.’

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Wednesday 19 June 12PM UK

Bribery and corruption are not new issues. But they remain impressively persistent in their ability to wreak havoc and cause trouble. Companies are losing hundreds of thousands of pounds to these schemes, not to mention reputational damage and legal action. In this webinar we will look at the different types of bribery risks your company can face, how to assess the specific dangers to your company and what you can do to mitigate those risks so you can sleep at night. 

Join us in this free, one-hour webinar. We will provide key information on bribery legislation, including a look at the changes if there is a Labour government after July 4, the myriad of ways companies can get caught up in bribery and the implications if a company doesn’t have effective anti-bribery policies in place. Significantly, we will guide companies in how to manage their bribery and corruption risks, develop an effective anti-bribery programme and learn how to mitigate the risks of bribery and corruption. 

This webinar will feature:

  • A basic understanding of the anti-bribery laws
  • Ways to assess your company’s risks for bribery and corruption
  • Relevant bribery case studies – and what you can learn from these stories
  • How to effectively mitigate your company’s risks 
  • How to develop an anti-bribery programme that works

The polls are predicting a landslide victory for the Labour Party at the general election on 4 July, 2024. If the polls hold firm, then within a hundred days, a far-reaching Employment Rights Bill will be introduced to parliament. 

Called the “New Deal for Working People,” it will introduce rights for day one for all workers, implement work-life balance rules, increase and strengthen statutory sick pay and remove the waiting limit and lower earnings threshold, move towards a single status for workers and employees, and crack down on the gig economy, Self-employed people and contractors will have new rights to a written contract, late payments and be covered by health and safety protections. Zero hours contracts will be banned, more notice for changes to shifts or rotas, more action on the gender, ethnicity and disability pay gaps, including a requirement for larger firms to develop, publish and implement action plans. There will be more rights to collective bargaining and redundancy rights, and the time limit for an employment claim will be increased from three to six months. Employment tribunals will be reformed to provide quicker and more effective resolutions.

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