Wednesday, January 18, 2006

Bye Bye OFR Hello Business Review

Within the first few days of the New Year it became increasingly clear that, despite the UK government's decision to drop the mandatory requirement for listed companies to produce an OFR, the subject matter is refusing to go away. Friends of the Earth have launched judicial review proceedings against the Chancellor of the Exchequer Gordon Brown and the Secretary of State for Trade and Industry Alan Johnson. The organisation stated that it "believed that the Chancellor's actions are unlawful". FoE pointed out that their action was supported by evidence from a number of organisations including "some investment bodies". Press reports have indicated that the hearing will take place in March.


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