HC Deb 25 April 1977 vol 930 cc709-10
14. Mr. Gow

asked the Secretary of State for Industry what further discussions he has had with the Chairman and the directors of Cable and Wireless Limited about their salaries; and if he will make a statement.

The Under-Secretary of State fair Industry (Mr. Les Huckfield)

This has to be considered as part of the general question of the salaries of nationalised industries board members which the Government still have under examination.

Mr. Gow

Will the Minister pay tribute to the directors and staff of Cable and Wireless Ltd.? Its profit for the year ended 31st March 1977 exceeded even the profit of £11 million made in the previous year. However, as the salaries of many of the senior officials of the company now substantially exceed the salaries of the directors, and as that fact makes it increasingly difficult to recruit new directors, will the Minister urgently reconsider the position of the directors of the company?

Mr. Huckfield

Of course I pay tribute to the people to whom the hon. Gentleman referred. I only wish that he had paid them a similar tribute when he introduced his Bill to denationalise the company. All I can say on the question of salaries is that I have made clear the Government's position on the matter, and I am sure that the hon. Gentleman now realises that that is a question that cannot be divorced from phase 3 of the pay policy.