SNP candidate seeks to hold senior executives accountable in law
22/02/24
Glen Reynolds, SNP candidate for West Aberdeenshire and Kincardine, will call for legislative change at Westminster in the wake of the Post Office debacle. If elected, he says he would pursue reform to right a fundamental wrong and hold people at the top of major corporations fully accountable for their actions.
“Should I be successful in the forthcoming general election, my focus will inevitably be on the interests of all of my constituents, whether they voted for me or not,” says Mr Reynolds.
“But I have been particularly struck by those who contacted me in the wake of the Post Office Horizon software scandal – something that has much wider implications in terms of how big companies behave and the financial and environmental damage they can cause.
“The Horizon scandal certainly impacted Post Office services in Aberdeenshire and across the country. There have been calls for senior executives to be brought to book.
“But we have seen lack of action again and again.
“Financial crises take place and wreak devastation without bankers being prosecuted and jailed. An offence of economic crime does not even allow for disqualification of company directors at the moment.
“Dr Susan Hawley, executive director of Spotlight on Corruption, wrote in the Financial Times recently that the former chair of the Environment Agency has called for prison sentences for chief executive officers of water companies responsible for illegal environmental damage for example, while the International Monetary Fund has asked for senior officials in the UK to be prosecuted for money laundering.
“But nothing happens.
“At the Post Office, hard-working local staff were seen as low-hanging fruit – easy targets for disciplinary action that was in itself unwarranted. Meanwhile, senior executives carried on with their massive bonuses, scot-free of enforcement action or prosecution.”
Mr Reynolds believes that there is a clear corporate accountability gap and this must be addressed in law.
He says, “If I become the MP for West Aberdeenshire and Kincardine, I will pursue all options, including the introduction of a private member’s bill, to make the legislative change – bringing real and effective accountability to bear on corporate governance.”