IoD reaction to Miliband speech

Dated: 27 September 2011

Commenting on Ed Miliband’s speech at the Labour conference, Miles Templeman, Director General of the Institute of Directors, said:

“We would like to know how Ed Miliband plans to identify and reward ‘good’ companies over ‘bad’ ones. In practice, we think he would find this neither straightforward nor desirable. He should have more faith in customers and investors to decide. In the modern business place price is not the sole determining factor affecting people’s buying and investment decisions. Consumers and investors are better equipped and better informed than ever to impose discipline on firms than any government. Instead of proposing that the state makes choices that are likely to be simplistic and wrong he would be wiser to find ways of boosting competition so that the customer remains king.”

ENDS

Contact Points

Edwin Morgan
Media Relations Manager
Institute of Directors, 116 Pall Mall, London SW1Y 5ED
Tel: +44 (0)20 7451 3392
Mob: +44 (0)7814 386 243
Email: edwin.morgan@iod.com
Website: www.iod.com/policy

Notes to editors

  • The Institute of Directors (IoD) was founded in 1903 and obtained a Royal Charter in 1906. The IoD is a non-party political organisation with approximately 38,000 members in the United Kingdom and overseas. Membership includes directors from right across the business spectrum – from media to manufacturing, e-business to the public and voluntary sectors. Members include CEOs of large corporations as well as entrepreneurial directors of start-up companies.
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