While we are clear that it is right that those who work hard, generate wealth and create jobs for our country are rewarded, where failure is rewarded or people award themselves huge pay rises that bear no relation to performance or what their companies can bear, trust is severely undermined.

Requiring fund managers to disclose how they vote would increase accountability and mean that pensioners and ordinary investors would more easily be able to see how those acting on their behalf vote on all issues, including remuneration.

One way to promote shareholder engagement and activism is through greater accountability and transparency.

Chuka Umunna Quotes