Bank crisis has hit trust in all firmsFebruary 2010
Banking failures have severely dented trust in all British business – especially among younger people, says an Ipsos Mori poll.
The survey found the proportion of 16 – 34 year olds who believe companies generally behave ethically has fallen by 13 percentage points from 64 per cent in 2008 to 51 per cent in 2009.
The Institute for Business Ethics and Centrica, who commissioned the poll, said half of British adults reported that the conduct of banks linked to the financial crisis had damaged their trust in all businesses.
More than half of the 1014 respondents (59 per cent) claimed they had not seen any changes in corporate openness and honesty in the past year, while a quarter (24 per cent) believed openness and honesty had decreased over the period.
Around three-quarters (76 per cent) were cynical that this would change at any point, believing progress will only be made if businesses are forced into it.
Executive pay emerged as the public’s primary corporate responsibility concern, with 42 per cent citing it as one of the top two or three issues that need addressing.
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