Henry Smith
Main Page: Henry Smith (Conservative - Crawley)Department Debates - View all Henry Smith's debates with the HM Treasury
(12 years, 10 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Andrea Leadsom (South Northamptonshire) (Con)
10. What steps he is taking to tackle excessive executive pay.
Henry Smith (Crawley) (Con)
14. What steps he is taking to tackle excessive executive pay.
Nadhim Zahawi (Stratford-on-Avon) (Con)
17. What steps he is taking to tackle excessive executive pay.
Danny Alexander
My hon. Friend makes a good point. That is already part of the Financial Services Authority’s code of practice for banking remuneration. It is particularly important to end the distorting effect of those kinds of incentives in the financial sector, but the additional powers that we are giving to shareholders, which my right hon. Friend the Business Secretary announced yesterday, will allow companies in other sectors to adopt that kind of practice, should they wish to do so.
Henry Smith
I welcome yesterday’s announcement by the Government on mitigating excessive executive pay. With regard to the UK honours system, may I seek an assurance from my right hon. Friend that the Government will be more circumspect in regard to the honours that are suggested, unlike the—
Mr Speaker
Order. I think that the hon. Gentleman might have been groping his way towards order, but he had not quite arrived. We will have to leave it there for today. We are specifically talking about excessive executive pay.