Sir Ian informed the BBC on Wednesday that Shein being listed in London might imply the UK might affect the agency.
He stated the London Inventory Alternate had a “good set of controls and high quality necessities”, including firms “can’t simply present up and be accepted with open arms”.
“I might at all times vote for firms coming to London to be on the accountable aspect of the [green] transition and shifting in the correct route,” Sir Ian stated, including that one other inventory alternate “may simply allow them to do what they need”.
Sir Ian stated there have been “a number of troublesome selections and nuances” when assessing firms for his or her environmental affect, reminiscent of oil and gasoline corporations.
In response to critics arguing that Shein had an unfair benefit on import expenses, Sir Ian stated that giant numbers of UK clothes retailers usher in garments from China, Bangladesh, and India, for instance, and pay duties on giant containers.
Shipments value lower than £135 despatched on to UK buyers don’t at present face import duties, however corporations bringing in bigger consignments do.
He stated if there was a “mismatch” the place small packages don’t pay import obligation, the federal government ought to have a look at it.
He added the foundations have been arrange like that “as a result of it was too troublesome to trace each parcel again within the day”, however “now we have go the know-how”.
“In the event you suppose that is an issue, then the federal government can repair it,” he advised.
On Tuesday, Mr Dunkerton additionally stated Shein was a “full environmental catastrophe”.
“Personally, I might pressure them into paying import obligation, VAT and presumably even an environmental tax,” he informed the BBC.
Shein has beforehand stated it complies totally with all its UK tax liabilities.
The agency has been contacted for remark.
