A new law that would force big business to act in the social interest will be unveiled in the SNP’s election manifesto this week.
The proposal will be part of a series of measures aimed at improving corporate responsibility.
Drew Hendry, SNP candidate for Inverness, Nairn, Badenoch and Strathspey, said: “It’s better for everyone when businesses choose to act responsibly.
“But when firms fail to do the right thing, government should have the power to step in.
“The SNP will put forward a package of measures that will make sure businesses work with the interests of their shareholders – many of whom will be the pension funds of workers – and wider society in mind.
“SNP MPs have been at the forefront of holding the Tories to account – and in the next parliament, Scotland could hold the balance of power.
“In that scenario, we’ll have real power to pursue our progressive and ambitious manifesto commitments.”
Under the plans, company directors would have a legal responsibility to act in the interests of wider stakeholders as well as shareholders.
Shareholders would also get more power to intervene and legislation to insure small businesses are paid on time.
The party will also demand the “public interest to be fully protected” in any future sale of shares in RBS, which was effectively nationalised in 2008.
The Scottish Greens’ manifesto, out tomorrow, will call for a law limiting the pay of chief executives to 10 times the salary of an average worker.
The party will pledge to introduce controls on the public sector before rolling out the scheme across the private sector.
Scottish Greens co-leader Lorna Slater said: “Not only is the growth of wealth inequality a gross injustice, it is also devastating for our planet.”
