Treasury written question – answered at on 5 March 2009.
To ask the Chancellor of the Exchequer what estimate his Department has made of the rate of change in salaries of company directors and senior executives as a result of salary pay review boards; and if he will make a statement.
The salaries paid to company directors and senior executives in the private sector are a matter for the boards of those companies, their remuneration committees and their shareholders.
The Directors' Remuneration Report Regulations 2002 require quoted companies to publish a report on directors' remuneration as part of its annual reporting process and give shareholders a vote on that report. This enables shareholders to hold companies accountable for their remuneration policies.
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Ray Jones
Posted on 6 Mar 2009 6:38 pm (Report this annotation)
I would have thought that the answer to the question was obvious and that most people would have known this before asking the question. In fairness, there may have been more BEHIND the question than was also obvious.