British House Building Industry Debate
Full Debate: Read Full DebateDepartment: Ministry of Housing, Communities and Local Government
Bob Stewart
Main Page: Bob Stewart (Conservative - Beckenham)Department Debates - View all Bob Stewart's debates with the Ministry of Housing, Communities and Local Government
British House Building Industry
Bob Stewart Excerpts(5 years, 2 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Siobhain McDonagh
I completely agree with my hon. Friend and congratulate him on all the work he has been doing. Without the attention he has given the issue, much would not have happened.
Let us be clear: the money does not flow through the companies. Thanks to excellent new research from the High Pay Centre, I can reveal the quite extraordinary pay packets of the 10 FTSE 350 house building companies. In the heart of our country’s housing crisis, the four FTSE 100 house building companies spent an eye-watering £53.2 million on their CEO pay. David Thomas at Barratt earned £2.811 million; Peter Redfern of Taylor Wimpey earned £3.152 million; Tony Pidgley at Berkeley reached £8.256 million; and Mr Fairburn, formerly of Persimmon, got a whopping £38.9 million.
Bob Stewart (Beckenham) (Con)
The hon. Lady is making a great speech and I totally endorse everything she has said. I am really worried as to what the heck the shareholders are doing. Do they not question this when they have their annual general meeting? They are meant to bring the companies to account on such matters.