William Bain
Main Page: William Bain (Labour - Glasgow North East)(12 years, 3 months ago)
Commons ChamberRead Full debate Read Hansard Text
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Vince Cable
In mentioning diversity, I think I included lawyers, improbable as that may seem. There is probably a dissenting view on the Opposition Front Bench.
Mr William Bain (Glasgow North East) (Lab)
Does the Secretary of State accept the finding of the High Pay Commission that in the year to last autumn—on his watch—the pay of FTSE 100 directors increased by 49%, whereas average incomes rose by only 2.7%? Does that not make the case for a permanent body on high pay to ensure that companies reflect the social obligations that they owe to all of us?
Vince Cable
As I understand it, the commission is in the process of encouraging the establishment of a monitoring body of that kind. That is not governmental or Government financed, but it would be a very useful institution in helping us to understand the trends.