Misunderstood
Sir: Skinflint last week misinterpreted the purpose of the Shareholders' Management Corporation proposed in my book Big Business and Government: the New Disorder. It would be not so much a buffer between ministers and corporations — as some see the NEB — but a real force for financial public accountability, separated from other aspects of the national interest.
The new deal proposed in my book would not prevent ministers imposing their will, but if they did they would evidently be responsible for the finer cial consequences. At present nobody is held responsible for financial performance in the nationalised sector. The first board of the SMC would be set up in the same. way as other new organisations: a chairman acceptable to interested parties is found and inevitably he has strong views on the selection of his fellow directors, providing shareholders (in this case including City institutions) approve.
44 Valiant House, Vicarage r avi g / el e A C rba er s chea ffl Crescent,
London SWII e
44 Valiant House, Vicarage r avi g / el e A C rba er s chea ffl Crescent, t,
London SWII e
Previous page
