§ 26. Mr. Jayasked the Chancellor of the Exchequer to what extent it is the intention of Her Majesty's Government that the policy contained in Command Paper No. 1626, Incomes Policy: The Next Step, should be applied to the fees of company directors.
§ Mr. Selwyn LloydThe policy set out in the White Paper applies to all forms of personal income, including directors' fees.
§ Mr. JayDoes that mean that the Government will intervene in future to decide the level of directors' fees?
§ Mr. Dudley WilliamsIn view of the fact that the only reason why the 2½per cent. rule should be breached is to attract people to a certain industry, and since there is no scarcity of candidates for this House, will my right hon. and learned Friend bear in mind the strong views of the hon. Member who put down this Question when he is considering any increase in emoluments for Members of Parliament?
§ Mr. LloydI am not quite certain that that supplementary question arises out of the original Question.
§ Mr. NabarroCan my right hon. and learned Friend confirm that there is no evidence to support the statement that the fees of company directors have increased at all in the last twelve months? Is not he aware that, since last July, business has been exceedingly difficult for company directors, and that they are much more likely to suffer a diminution of fees than any increase, as a result of my right hon. and learned Friend's activities?