§ Mr. Peter Walkerasked the Chancellor of the Exchequer if he will give the regional distribution of those firms against which he is already operating sanctions in respect of their violating the Government's guidelines on incomes policy.
§ Mr. Joel BarnettNo.
§ Mr. Peter Walkerasked the Chancellor of the Exchequer what action he is taking to see that the details of any sanctions he is taking against firms which have violated the Government's guidelines on incomes policy are communicated to shareholders and prospective shareholders in those firms.
§ Mr. Robert SheldonThe Government share the hon. Member's concern that shareholders should influence their firms towards concluding pay settlements in accordance with the guidelines, but such influence is better exercised in a continuous way rather than as pressure after an excessive settlement has been reached. I76W am sure that shareholders will bear in mind the well-known possibility of the use of discretionary action against firms which conclude excessive pay settlements. They could take the opportunity of the firm's annual meetings to examine the firm's management on this matter.
§ Mr. Peter Walkerasked the Chancellor of the Exchequer to which nationalised industries a list of firms who have broken the Government's guidelines on pay policy has been sent; and if these nationalised industries have the authority to distribute the list to all those officials of the nationalised industries who may be concerned with purchasing policy.
§ Mr. Joel BarnettAll nationalised industries have been sent by their sponsoring Departments a list of firms which have breached the Government's guidelines on pay policy. The precise subsequent action is a matter of day-to-day management for the industries and is therefore for them to decide.