Companies: Executive Remuneration

Lord Jones of Birmingham Excerpts

Wednesday 13th June 2012 Lords Chamber

[Lord De Mauley]

My Lords, I am as yet unconvinced that it would contribute to the growth of those companies or of UK plc.

[Lord Jones of Birmingham]

My Lords, can the Minister explain exactly what a worker is? What is important is that directors on boards are seen to—and do—fulfil a duty to all the stakeholders in a business, including creditors, suppliers, employees and, above all, customers. I would welcome the Minister’s illumination on what constitutes a worker.

[Lord De Mauley]

I think that the word came from the Opposition rather than myself. We are all workers and I am delighted to have the opportunity to confirm that.