Business committee chair Liam Byrne is concerned after Jeremy Hunt reportedly held talks with the chain about floating in the City
Jeremy Hunt is reportedly keen for the fast-fashion brand Shein to float on the London Stock Exchange Concerns over Shein are particularly acute because of the Government’s failure to strengthen safeguards against “forced labour” being used in global factories supplying major firms, Mr Byrne said in an interview.but has never been put before Parliament, is effectively dead. The Home Office contends that it is still under consideration.
“Right now, Britain does not have the necessary safeguards in place to prevent this abuse because ministers dropped their 2022 Queen’s Speech plans to ensure firms took every step possible to ascertain they are not using forced labour in their supply chains. This bill was intended to “increase the accountability of companies and other organisations to drive out modern slavery from their supply chains”, according to a government briefing issued in May that year.
British retailers are frustrated that Shein can undercut them by shipping orders in individual parcels directly from China, allowing it towhich only apply to packages worth at least £135. Shein says it “pays applicable taxes including corporation tax, VAT and employment taxes”.: “There has to come a point where we think about the country and the economy, and all the money from those salesto deliver its clothing quickly from China to customers in the UK and elsewhere.
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