Earl of Erroll
Main Page: Earl of Erroll (Crossbench - Excepted Hereditary)
Baroness Wilcox
As I have said and as I am happy to repeat, this is an independent report by Professor Kay. He is able to say what he likes on the whole of this subject and we look forward to what he recommends.
The Earl of Erroll
The challenge is how one incentivises people for longer-term thinking. The trouble is that if the quickest way of turning a fast profit in order to maximise one’s share options is to axe longer-term research and development, there will be no benefit to Britain in the longer term. One sees that happening too often. There are two sorts of shareholders and unfortunately the bigger lot are in there for the short term as well for investment purposes.
Baroness Wilcox
The noble Earl is quite right. We sell ourselves short if do not invest in the future and do not look at R&D. It is an important part of anyone’s balance sheets, certainly in the FTSE 100, and I am happy to agree with him.