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Spin and warm words on executive pay from an out of touch Prime Minister - Umunna
6 January 2012
Chuka Umunna MP, Labour's Shadow Business Secretary, responding to the Prime Minister's comments on executive pay this morning, said:
“The Prime Minister claims to recognise the importance of responsibility at the top as well as the bottom of society but he has been in power for 20 months and failed to act on excess in the boardroom and in the City, whilst at the same time the measures in the Government’s Autumn statement take three times as much from families with children as they do from the banks.
“We have called on Cameron to implement the Walker Review Proposals on the disclosure of bankers’ pay which Labour legislated for in government, for companies to include an employee on the remuneration committee of company boards and for the publication of the ratio of the average pay of a worker to that of the highest paid executive in a company, yet the Prime Minister does nothing. Lots of spin and warm words from an out of touch Prime Minister yet no action – a familiar story from Cameron on City and boardroom excess.”
