THE TORIES were accused of tokenism yesterday after announcing measures that they claim would tackle abuses of boardroom power in large companies such as collapsed high street chain BHS.

Prime Minister Theresa May said ministers want to curb an “irresponsible minority” of bosses whose reckless behaviour has left workers, pensioners and customers suffering when businesses run into trouble.

Under the new proposals, set out in a government green paper by Business Secretary Greg Clark, large privately owned firms could be required to comply with the same standards of corporate governance as those listed on the stock exchange.

Labour’s shadow business secretary Clive Lewis charged that the proposals smacked of “tokenism.”

He added: “The real test has to be whether these proposals would have saved jobs and pensions at BHS or prevented the gross mistreatment of staff at Sports Direct, and whether they’ll tackle the scourge of low pay and escalated executive pay.

“Anything that falls short of doing that is just not good enough.”

The government also proposed making the “voice” of workers heard within businesses by adding staff representatives to company boards, and aligning executive pay with company performance.

Ms May has already broken her promise to require firms to include workers on their boards, having used her speech to the Confederation of British Industry conference last week to reassure bosses that this would not happen.

Six in 10 people support the election of worker representatives to the boards of large companies and only 10 per cent of survey respondents oppose the idea, according to a new poll published yesterday by the TUC.

TUC general secretary Frances O’Grady said Ms May’s backtracking on promises was “disappointing.”

She added: “We need the voice of elected workers in the boardroom, rather than on advisory panels.

“The PM vowed to govern for working people. She should let them have a say where it really matters.”

Former Labour leader Ed Miliband has pointed out that the idea of forcing firms to reveal the pay gap between top bosses and average workers was proposed by him back in 2012.

At the time, he was accused by the then chancellor George Osborne of seeking to create an “anti-business culture.”

But now ministers insist that they will consult on the corporate governance reforms.