Executive Pay
Debate between Vince Cable and Jonathan Ashworth(12 years, 10 months ago)
Commons ChamberRead Full debate Read Hansard Text
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Mr Speaker
It is interesting to note that the shyness and reticence that previously overcame the hon. Member for Shipley (Philip Davies) have now been successfully overcome.
Jonathan Ashworth (Leicester South) (Lab)
A few moments ago, the Secretary of State told us that he would consider it desirable to see more employees represented on boards, but then he told us about what he considered to be insurmountable obstacles. If Germany, Austria, Finland, Sweden, Norway and Denmark can do it, why cannot we?
Vince Cable
I have dealt with this question several times already. I am aware that those countries—[Interruption.] Yes, of course those countries have a different system that results in workers on boards, but of course that does not happen in isolation. They have completely different systems of corporate governance.
Since the hon. Member for Streatham (Mr Umunna) reminded me of my days in his party, I shall say that one of the last things that I tried to do under the 1979 Government, when I was working with John Smith, was introduce a co-determination system, but alas that Government showed very little interest in implementing it.