Directors' Remuneration

Part of the debate – in the House of Lords at 2:30 pm on 9 September 2003.

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Photo of Lord Sainsbury of Turville Lord Sainsbury of Turville Parliamentary Under-Secretary (Science and Innovation), Department of Trade and Industry, Parliamentary Under-Secretary (Department of Trade and Industry) (Science and Innovation) 2:30, 9 September 2003

My Lords, I do have a sense of deja vu. The Question asked by the noble Lord, Lord Dormand, is extremely important and we take it extremely seriously. However, where one has introduced legislation to deal with a particular situation, it is totally right and appropriate first to see the impact of that legislation before legislating further. It is not true to say that we have taken no action on this. We have acted in the regulations and we have a further paper out for consultation.