§ 13. Captain HAROLD BALFOURasked the Under-Secretary of State for Air if he will state the terms and provisions for remuneration of the two Government directors appointed by the Air Ministry on the board of Imperial Airways, Limited, as settled between the company and the Department; and if such remuneration is taken into account when payment of retired pay or pension from public funds is received by such directors?
§ Sir P. SASSOONAs regards the first part of the question, the remuneration of the two Government 1061 directors on the board of Imperial Airways, Limited, is not payable from public funds. It is governed by the Articles of Association of the company under which the directors as a body receive £6,500 per annum, which is divided among them in proportions which they themselves determine. The answer to the second part of the question is in the negative.
§ Captain BALFOURIn view of the fact that this company is in receipt, as part of its income, of money from public funds, can the right hon. Member say that the proportion of the receipts of the company which comes from public funds shall not be taken into account in the remuneration received by the directors?
§ Sir P. SASSOONIt is true that this company is in receipt of a subsidy, but it is a commercial company, and the remuneration paid to the directors must, of course, go in the revenue fund.
§ Captain BALFOURWill the right hon. Member answer my question? Is not some of the money received by the directors paid out of funds received by the company from the public, and can he say that such payment shall not be taken into consideration in assessing the amount of retired pay or pensions which these Government-appointed directors are to receive?
§ Sir P. SASSOONObviously, if a company has been in receipt of a subsidy, that subsidy must go into the revenue of the company.
§ Captain BALFOURMay I give notice that, in view of the very unsatisfactory nature of the reply, I shall raise this matter on the Adjournment on an early date?