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Banks: Pay

Business, Enterprise and Regulatory Reform written question – answered on 22nd January 2008.

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Photo of Austin Mitchell Austin Mitchell Labour, Great Grimsby

To ask the Secretary of State for Business, Enterprise and Regulatory Reform if he will appoint an inquiry to investigate executive remuneration at banks.

Photo of Stephen Timms Stephen Timms Minister of State (Department for Business, Enterprise and Regulatory Reform) (Competitiveness)

No. Directors' remuneration is a matter for companies and their shareholders.

The Directors' Remuneration Report Regulations 2002 have improved transparency and accountability in this area.

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