§ Mr. Arthur Lewisasked the Minister of Labour whether he is aware that the board of Plessey's Limited are giving a £75,000 golden handshake to one of their retiring directors; and, as this is contrary to the Government's policy on wages, prices and incomes, what action he proposes to take to prevent it.
§ Mr. GunterI understand that the sum of £75,000 was not a gratuity but was the amount required to fund by a single insurance premium the pension considered appropriate for a director who was retiring152W early, and for whom the existing arrangements were held to be inadequate. I am informed that the payment of the premium was made before the Prices and Incomes standstill and that the pension became payable on the director's retirement on 30th June, 1966. Whatever view one may take of payments on this scale, it does not appear to be an infringement of the standstill.