May’s Davos Speech States Companies Must Share Globalisation Benefits

British Prime Minister Theresa May has stated that companies need to pay their taxes and treat their workers fairly in order to address the concerns of those that are not seeing the benefits of huge profits.

She was addressing some of the world’s biggest companies in Davos, Switzerland, speaking at the World Economic Forum.

She said that market forces were not going to deliver prosperity for everyone and action was needed.

Her speech was met with polite applause.

May said, “I want to set out a manifesto for change that responds to these concerns and shows that the politics of the mainstream can deliver the change people need.

“Because talk of greater globalisation can make people fearful. For many, it means their jobs being outsourced and wages undercut. It means having to sit back as they watch their communities change around them.”

She continued to say that both governments and business had to do more to address the feeling of “those who prosper seem to play by a different set of rules.

“If you’re just getting by, you don’t want a government that gets out of the way, you want one that will help you.”

“UK trust in business runs at just 35%”

She continued, “It means playing by the same rules as everyone else when it comes to tax and behaviour because in the UK trust in business runs at just 35% among those in the lowest income brackets. And it means putting aside short-term considerations and investing in people and communities for the long term.

“It means businesses paying their fair share of tax, recognising their obligations and duties to their employees and supply chains, and trading in the right way; companies genuinely investing in – and becoming part of – the communities and nations in which they operate, and abiding by the responsibilities that implies; and all of us taking steps towards addressing executive pay and accountability to shareholders.”

Critics of her speech have cited hard Brexit and no mention of the customs union as weak points.