Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what the Government's policy is on executive pay being approved by an annual vote of shareholders.

Remuneration policies of quoted companies must be put to a binding shareholder vote at least once every three years. A binding shareholder vote is required to approve any Directors’ remuneration that falls outside the scope of the approved remuneration policy.

The annual Directors Remuneration Report on implementation of the remuneration policy is subject to an advisory shareholder vote. If this vote is lost, a company must put a new remuneration policy to a binding shareholder vote within twelve months.

The Government has no current plans to change these existing shareholder voting provisions.