BBC

Debate between Lord Gordon of Strathblane and Lord Berkeley of Knighton

Thursday 15th September 2016 Lords Chamber

[Lord Gordon of Strathblane (Lab)]

My Lords, I am comparatively relaxed about the publication of salaries, unlike quite a lot of my colleagues. However, one thing could turn out to be counterproductive. There is at least anecdotal evidence that what has driven up executive pay in the private sector has been the publication of what competitors are paying. After all, because of the consultants who advise people—and indeed are encouraged by the Government to advise people on salaries—nobody wants to be in the bottom quartile. Mathematically, if nobody opts to be in the bottom quartile, salaries will go up—and historically they have gone up.

It is also fair to say that, a public company such as ITV, for example, has to publish its salaries. They are in the shareholders’ report. I am in favour of extending transparency and making publication compulsory.

[Lord Berkeley of Knighton]

Those of us—

[Lord Gordon of Strathblane]

I gather that I was being unduly courteous in giving way. The time for a proper debate on this will be in October, and I welcome the offer of such a date.

I have a final point on Radio 3. I share the general congratulations to Radio 3, but it is worth while remembering that Lord Reith disapproved of Radio 3 because he wanted classical music to permeate all programming, not be isolated on a single channel.