Clause 53 - Links between directors' pay and
Water Bill [Lords]
11:15 am
Mr Elliot Morley (Minister of State (Environment and Agri-Environment), Department for Environment, Food and Rural Affairs; Scunthorpe, Labour)
The amendments relate to the duty to publish links between directors' pay and standards of performance that clause 53 places on the undertakers.
They would remove the duty to include in statements the arrangements that are planned for the current financial year. The hon. Member for Lewes made that point.
The amendments would mean that the statement would be retrospective. That goes against the concepts of openness and transparency, and would considerably reduce the value of the statement. We have been talking about holding companies to account, being open and transparent, and making information available. I am not clear that the amendment progresses those objectives because it restricts the information by making it retrospective. Following that explanation, I hope that the hon. Gentleman will withdraw his amendment.