Andrew Bridgen backs Government plans on executive pay
Andrew Bridgen welcomes the Government’s plans on executive pay as part of the process to reconnect the principles of risk-taking, success, hard work and rewards in both the private and the public sector.
Andrew Bridgen (North West Leicestershire) (Con): Will the Secretary of State confirm that proposals to tackle excessive pay are just part of the Government’s plans to reconnect the principles of risk-taking, success, hard work and rewards in both the private and the public sector?
Vince Cable: The hon. Gentleman is absolutely right, although we have of course already introduced principles governing remuneration in the public sector, including greater transparency, ratios and things of that kind. We are now extending those into the private sector where it is appropriate to do so, while recognising, as he implied, that in the private sector we need also to give incentives to entrepreneurship and good management.