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A leading Labour spokesman has warned his party to be vigilant against
corporate irresponsibility in a scathing attack on capitalism.

Stephen Timms, shadow minister for employment, said that businesses were
“driven by greed” and that unethical business practices were “the natural
way that capitalism operates”. He conceded that some businesses were
ethical, but added that it was for the next Labour government to provide a
framework to control bad behaviour.

The former Treasury minister made the remarks at a Fabian conference on
“responsible capitalism” on Saturday.

The remarks will further irritate the business community, already unsettled by
the way in