Debbie Abrahams
Main Page: Debbie Abrahams (Labour - Oldham East and Saddleworth)(12 years, 3 months ago)
Commons ChamberRead Full debate Read Hansard Text
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Vince Cable
The hon. Gentleman is absolutely right, although we have of course already introduced principles governing remuneration in the public sector, including greater transparency, ratios and things of that kind. We are now extending those into the private sector where it is appropriate to do so, while recognising, as he implied, that in the private sector we need also to give incentives to entrepreneurship and good management.
Debbie Abrahams (Oldham East and Saddleworth) (Lab)
The Secretary of State mentioned that he was not accepting the High Pay Commission recommendation to publish the ratio between the highest and the average earners in a company because it was too complex. Will he expand on that please?
Vince Cable
That was not the recommendation to which I referred. The commission also made a specific recommendation about a double number between salary and top-up to salary. For a variety of reasons, we do not feel that being quite so prescriptive is appropriate, but that was the recommendation to which I referred and which we were not able to take forward.