Following pressure from Britain's business sector, David Cameron has backed down over proposals to implement a social bad trading system.

Under the abandoned proposals, companies selling alcohol or carbohydrate-based products would have been obliged to trade credits under a system that may be reminiscent of the current carbon trading scheme, reports the Financial Times.

"Social responsibility's not really flown as a big idea," said Nick Robinson, political editor for the BBC.

"It's been dismissed either as a headline-grabbing soundbite or mere exhortation to business and society to do more," he added.

The idea had originally been mooted in January as one method of encouraging the development of responsible business and was formulated by a Conservative party working group.

It was confirmed by the party that the idea has not been formulated into policy.