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My Lords, I rise in the gap to make a couple of quick points because I remember the entire debate around the passing of the 1999 Bill very well. In fact, I sat on the Cross-Bench group which produced some thoughts in response to the legislation. It could not be a representative Cross-Bench group but a significant number of us thought that it produced some useful contribution to the debate....
If there is not, that is good. I thought that there was not. It amused me that the noble Lord, Lord Rennard, referred to the election of the hereditary Peers not meeting a democratic standard. I am pleased that he approves of democratic standards and will therefore approve of only further democratic reform of the House of Lords, not an appointed House. I also noticed that the noble Lord, Lord...
Is there not also a deeper problem, which is that many of these remuneration packages of senior executives are geared towards profit targets in various ways? The quickest and easiest way of doing this is to axe the visionary research and development programmes in order to increase the bottom line temporarily to get their rewards. As a result, some of our larger companies are suffering from, I...
Entered the House of Lords in 1978
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