Business leaders, academics and finance experts call the move ‘a significant step backwards,’ in a letter to the government.

Its aim is to help foster ‘a culture of responsible risk taking and effective governance’ and enhance trust in UK business.

Institute of Directors’ code of conduct for company directors; sustainability is ‘public expectation’; AI’s role in data analytics.

Sir Keir Starmer has committed the Labour administration to ‘service’: by rights, that should include improving business ethics.

The Institute of Directors’ ‘Manifesto for Business’ also seeks change to section 172 to promote company purpose.