This is a political distraction designed to distract BOTH sides (pro & anti Tory government). It is working fantastically since people are discussing this rather than the PM committing crimes, getting caught, and then changing the ethics code to avoid resignation (and multiple no confidence letters from back-benchers).
Ultimately this is a consultation with no teeth. Industry are against it since it will add significant cost and regulatory problems, and with the UK already struggling under Brexit importation issues, it would be very self-destructive. It only really appeals to a very old, very pro-Tory demographic, that is rapidly disappearing.
But again this is all a political distraction, they will do this consultation, milk it as much as they can, and then pocket it. Or just make it officially optional which nobody will utilize but have some technicality they can point to.