Peter Bone
Main Page: Peter Bone (Independent - Wellingborough)(12 years, 3 months ago)
Commons ChamberRead Full debate Read Hansard Text
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Vince Cable
The hon. Lady is quite right: there is a different pay structure in investment banks, because of the problems that she describes. The Chancellor has already initiated action, in the form of a proposed regulation through the Financial Services Authority which will require financial institutions to declare the highest pay of employees who are not on the boards of those companies.
Mr Peter Bone (Wellingborough) (Con)
The Secretary of State must be extremely happy. The liberal, left-wing clap-trap that he has announced today—which even Labour did not do, in 13 years—has somehow got through the coalition in the hope of a good headline. It has done nothing to increase growth or employment in this country. Is he a happy man?
Vince Cable
I am actually. I realise that when I first raised the issue of responsible capitalism 18 months ago, I was denounced in parts of the press as a Marxist. I thought I had left that behind, but apparently not.