Directors’ Pay

Barry Sheerman Excerpts

Wednesday 20th June 2012 Commons Chamber

[Mr Deputy Speaker]

Sometimes you can help people, but not all the time.

[Mr Barry Sheerman (Huddersfield) (Lab/Co-op)]

I welcome much of what the Secretary of State said, but the proof of the pudding will be in the eating. What difference will the changes make to the so-called directors—I call them the vermin—of the private equity world who took over Boots the Chemist five years ago and have now sold it off to the Americans? Will he announce how much money they have screwed out of this deal?

[Vince Cable]

This change deals with public listed companies, not with private equity. There is a whole set of separate issues to consider about the regulation of private equity companies and about tax policy, but this change is about public listed companies.