Cadbury, Greenbury, Hampel, Turnbull, Higgs, Myners, Smith. No, this is not Blackpool’s backline from the 1953 cup final, but a list of grandees commissioned to review aspects of company law and corporate governance in the 1990s and early 2000s.

Fading memories of attending their dessicated and often inconsequential press conferences prompt a degree of cynicism about Vince Cable’s grand vision to reform company law in the cause of ‘responsible capitalism’. This is somewhat misplaced. Moves to enhance transparency about who owns and controls UK companies are, after all, being driven by the G8. Not before time.

There is much else that is good. A review of pre-packs is well overdue, notwithstanding that this dubious insolvency vehicle saved many jobs when Cobbetts went down. Making directors more responsible for misconduct and company failure is also timely, though don’t be surprised if this additional burden serves to ratchet up boardroom pay still further.

The politics cannot be ignored, however, even before the formidable business lobby marshals its forces. It is unlikely any of the proposals will reach the statute book before the 2015 general election, and it is impossible to forecast what will survive its outcome.