Mon, 23 Jan 2012
Commenting on Liberal Democrat Business Secretary, Vince Cable’s announcement of plans to curb excessive executive pay, Co-chair of the Liberal Democrat Parliamentary BIS Committee, Lorely Burt said:
“This announcement shows the Liberal Democrats’ commitment to tackle out of control executive pay.
“Liberal Democrats have no problem with people being highly paid but there should not be rewards for failure.
“This problem can only be solved by companies and their shareholders. It’s not government’s role to micro-manage company pay but there are things we can do to address what is a clear market failure.
“With millions of people experiencing pay freezes and uncertainty about their jobs, the right thing to do is to shine a light on the murky world of executive pay and boardroom behaviour.”