Moved by
Lord Hodgson of Astley Abbotts
108: After Clause 40, insert the following new Clause—
“Duty to take account of impacts on sustainable good work
(1) When undertaking duties and using powers under the Financial Services and Markets Act 2000, the FCA must take into account—
(a) the impacts or potential impacts on sustainable good work in the United Kingdom as a consequence of the provision of financial services with particular regard to the evaluation of—
(i) net gains in total employment;
(ii) quality of work available;
(iii) terms and conditions of work available;
(iv) opportunities for training and reskilling;
(b) the desirability of providing financial services and investment supporting the creation of sustainable good work across the United Kingdom; and
(c) the desirability of advancing the international reputation of the United Kingdom for promoting inclusive and sustainable economic growth and decent work for all pursuant to the United Nationals Sustainable Development Goals.
(2) The FCA must publish guidance to organisations providing financial services about fulfilment of the requirements specified in subsection (1)(a)(i) to (iv).
(3) In this Act, “good work” means work which provides and promotes—
(a) fair pay;
(b) fair conditions;
(c) equality and freedom from discrimination;
(d) dignity;
(e) autonomy of workers;
(f) physical and mental wellbeing;
(g) access to institutions and people who can represent workers’ interests;
(h) participation of workers in determining and improving working conditions;
(i) access to facilities for career guidance and training.”