House of Lords written question – answered on 14th February 2012.

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Photo of Lord Myners Lord Myners Labour

To ask Her Majesty's Government whether they have consulted the United Kingdom banking industry in reaching their view that it would not be in the national interest to publish details of the number of employees in each bank paid more than £1 million per annum, as recommended by the Walker review in November 2009; and whether the views of others were sought, such as bank owners and employee representatives.

Photo of Lord Sassoon Lord Sassoon The Commercial Secretary to the Treasury

The Government remain committed to Sir David Walker's principles and recommendations. The European Commission's capital requirements directive (CRD4) proposals contain a proposal for additional regulations on remuneration disclosure that are very close to the Walker-based disclosure principle.

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