Prince Charles set to court controversy again with comments on reforming capitalism

Prince Charles prompted a diplomatic spat with Russia last week when he compared Vladimir Putin to Hitler

The Prince of Wales is to speak at a major conference about reforming capitalism just days after the heir to the throne was warned not to speak out on matters of public controversy.

Prince Charles prompted a diplomatic spat with Russia last week when he compared Vladimir Putin to Hitler during a visit to Canada.

However the Prince will not be deflected from commenting on public affairs. Clarence House confirmed that he is address a conference staged by the Inclusive Capitalism Initiative at London’s Mansion House and Guildhall tomorrow (Tuesday).

The Prince is due to deliver the opening remarks at the conference, which will discuss measures to combat “worldwide increases in income inequality” as well as “historically high and persistent unemployment and short-term approaches to managing and owning companies.”

The agenda echoes Ed Miliband’s call for a “responsible capitalism” which would tackle issues such as excessive executive pay alongside reforms to create sustained growth and reduce inequality.

The conference seeks “practical ways to renew capitalism to make it an engine of economic opportunity and shared prosperity through the adoption of inclusive business practices.”

The event also asks how capitalism can generate “more jobs or better pay for workers”. The Prince’s speech will be followed with an address Michael Sommer, President of the German Confederation of Trade Unions and the International Trade Union Confederation.

His speech is titled: “The German model – how labour, management and capital can work together to increase the benefits of capitalism.”

Clarence House believes the conference is an appropriate forum for the Prince to speak. A spokesman said: “The Prince of Wales will attend the Conference on Inclusive Capitalism on Tuesday, as part of his standard engagement programme, at the invitation of the conference hosts The Lord Mayor of London and Lady de Rothschild. HRH will deliver the opening address, contributing to the discussion on ways to develop an inclusive, sustainable and resilient society."

The Prince can claim that he is in good company at the high-level event. Keynote speakers include Bill Clinton, Mark Carney, Governor of the Bank of England and Christine Lagarde, head of the International Monetary Fund.

A statement of its values on the Initiative’s website says: “Inclusive Capitalism is concerned with fixing the elevator of the economist Larry Katz’s famous analogy that portrays the American economy as an apartment block in which the penthouses have increased in size, the middle apartments are more and more squeezed, the basement is flooded, but what “gets people down the most” is that the elevator is broken.”

Financial backers of the conference include Len Blavatnik, the Ukraine-born oligarch, estimated to be the second-richest man in Britain, whose interests extend from oil and gas to the Warner Music group, home of Coldplay and Kylie Minogue.

Start your day with The Independent, sign up for daily news emails
News
Legendary blues and rock singer Joe Cocker has died of lung cancer, his management team as confirmed. He was 70
people70-year-old was most famous for 'You are So Beautiful'
News
people
Sport
Chelsea manager Jose Mourinho
footballLatest score and Twitter updates
Arts and Entertainment
David Hasselhof in Peter Pan
The US stars who've taken to UK panto, from Hasselhoff to Hall
PROMOTED VIDEO
Have you tried new the Independent Digital Edition apps?
ebooks
ebooksA year of political gossip, levity and intrigue from the sharpest pen in Westminster
Life and Style
Approaching sale shopping in a smart way means that you’ll get the most out of your money
life + styleSales shopping tips and tricks from the experts
News
newsIt was due to be auctioned off for charity
Life and Style
A still from a scene cut from The Interview showing North Korean leader Kim Jong-un's death.
tech
Environment
Sir David Attenborough
environment... as well as a plant and a spider
Voices
'That's the legal bit done. Now on to the ceremony!'
voicesThe fight for marriage equality isn't over yet, says Siobhan Fenton
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs General

Ashdown Group: IT Support Technician - 12 Month Fixed Term - Shrewsbury

£17000 - £20000 per annum: Ashdown Group: IT Helpdesk Support Technician - 12 ...

The Jenrick Group: Maintenance Planner

£28000 - £32000 per annum + pension + holidays: The Jenrick Group: Maintenance...

The Jenrick Group: World Wide PLC Service Engineer

£30000 - £38000 per annum + pesion + holidays: The Jenrick Group: World Wide S...

The Jenrick Group: Project Manager

£35000 per annum + Pension+Bupa: The Jenrick Group: We are recruiting for an e...

Day In a Page

Surrounded by high-rise flats is a little house filled with Lebanon’s history - clocks, rifles, frogmen’s uniforms and colonial helmets

Clocks, rifles, swords, frogmen’s uniforms

Surrounded by high-rise flats is a little house filled with Lebanon’s history
Return to Gaza: Four months on, the wounds left by Israel's bombardment have not yet healed

Four months after the bombardment, Gaza’s wounds are yet to heal

Kim Sengupta is reunited with a man whose plight mirrors the suffering of the Palestinian people
Gastric surgery: Is it really the answer to the UK's obesity epidemic?

Is gastric surgery really the answer to the UK's obesity epidemic?

Critics argue that it’s crazy to operate on healthy people just to stop them eating
Homeless Veterans appeal: Christmas charity auction Part 2 - now LIVE

Homeless Veterans appeal: Christmas charity auction

Bid on original art, or trips of a lifetime to Africa or the 'Corrie' set, and help Homeless Veterans
Pantomime rings the changes to welcome autistic theatre-goers

Autism-friendly theatre

Pantomime leads the pack in quest to welcome all
The week Hollywood got scared and had to grow up a bit

The week Hollywood got scared and had to grow up a bit

Sony suffered a chorus of disapproval after it withdrew 'The Interview', but it's not too late for it to take a stand, says Joan Smith
From Widow Twankey to Mother Goose, how do the men who play panto dames get themselves ready for the performance of a lifetime?

Panto dames: before and after

From Widow Twankey to Mother Goose, how do the men who play panto dames get themselves ready for the performance of a lifetime?
Thirties murder mystery novel is surprise runaway Christmas hit

Thirties murder mystery novel is surprise runaway Christmas hit

Booksellers say readers are turning away from dark modern thrillers and back to the golden age of crime writing
Anne-Marie Huby: 'Charities deserve the best,' says founder of JustGiving

Anne-Marie Huby: 'Charities deserve the best'

Ten million of us have used the JustGiving website to donate to good causes. Its co-founder says that being dynamic is as important as being kind
The botanist who hunts for giant trees at Kew Gardens

The man who hunts giants

A Kew Gardens botanist has found 25 new large tree species - and he's sure there are more out there
The 12 ways of Christmas: Spare a thought for those who will be working to keep others safe during the festive season

The 12 ways of Christmas

We speak to a dozen people who will be working to keep others safe, happy and healthy over the holidays
Birdwatching men have a lot in common with their feathered friends, new study shows

The male exhibits strange behaviour

A new study shows that birdwatching men have a lot in common with their feathered friends...
Diaries of Evelyn Waugh, Virginia Woolf and Noël Coward reveal how they coped with the December blues

Famous diaries: Christmas week in history

Noël Coward parties into the night, Alan Clark bemoans the cost of servants, Evelyn Waugh ponders his drinking…
From noble to narky, the fall of the open letter

From noble to narky, the fall of the open letter

The great tradition of St Paul and Zola reached its nadir with a hungry worker's rant to Russell Brand, says DJ Taylor
A Christmas ghost story by Alison Moore: A prodigal daughter has a breakthrough

A Christmas ghost story by Alison Moore

The story was published earlier this month in 'Poor Souls' Light: Seven Curious Tales'