The minister for the City of London, Paul Myners, has said that the UK Government wanted more satisfactory engagement between company boards and investors and the enhancement of public disclosure of voting, in order to address "governance shortcomings that have become apparent" during the financial turmoil.

In an article published today, Lord Myners of Truro said: "The Government understands and supports the essential role that shareholders play in the ownership and governance of companies. However, while acknowledging the great strides that have been made, the Government is keen to see further active and constructive engagement from shareholders to address the governance shortcomings that have become apparent."