My hon. Friend raises an important issue. I am pleased to say that the Government have already taken some action on executive pay: giving shareholders the power to veto pay policies, forcing companies to disclose the pay of their board directors and introducing tough transparency measures for banks. I want to build on that, which is why we published a Green Paper on how to strengthen shareholders’ influence over executive pay and introduced greater transparency. I look forward to receiving representations from my hon. Friend on this issue.