The UK Government has launched a consultation into the Modern Slavery Bill provision which will require businesses with turnover above a certain level to publish an annual slavery and human trafficking statement.
In this statement a business must describe the steps they have taken to ensure that slavery and human trafficking is not taking place in any of their supply chains or their own business, or they must disclose that they have taken no such steps.
The consultation is seeking views on what level of turnover a business should be required to have for this provision to apply, and on what the statutory guidance should cover.
The consultation doesn't recommend a threshold of total turnover that would catch companies, but suggests four examples with estimates of businesses that would be covered. A threshold of £36 million annual turnover – which determines a ‘large’ company in the Companies Act – would cover 12,259 UK companies. A £250 million figure would cover 2,554, while £500 million would mean 1,409 firms would be required to report.
The minister for modern slavery and organised crime, Karen Bradley, says “I am determined to ensure that UK supply chains are not being infiltrated by modern slavery. Supply chains are often extremely long, complex and cross international borders. Even services provided in the UK can involve outsourced labour from across the globe,”
Learn more and take part in the consultation at gov.uk.