The Liberal Democrat Spokesperson for International Development in the House of Lords, Baroness Northover, today urged the Government to allow greater transparency of UK companies operating overseas.

Commenting on amendments proposed by the Liberal Democrats to the Company Law Reform Bill, Baroness Northover said:

"The millions of people who joined Make Poverty History last year want to know that British companies working overseas are not damaging the environment or harming communities in which they work.

"The business community agrees with the Liberal Democrats that there needs to be greater transparency. Yet astonishingly the Chancellor rejected his own Government's proposals on this and, although fragments of the policy remain, this is not enough.

"Good companies with sustainable practices have welcomed these proposals to bring more openness into how British companies operate overseas.

"Without a robust law, it will be extremely difficult for shareholders and members of the public to ensure UK firms operate ethically."