§ Mr. McMasterTo ask the Prime Minster what revision he has made to his statement of 18 July 1994,Official Report, column 2, that directors should follow the lead that the Government have set for pay in the public sector; and if he will make a statement. [19039]
§ The Prime MinisterThe Government's approach to public sector pay stands as a commendable example to directors and others in the private sector. However, the remuneration of directors is ultimately a matter for the companies themselves and their shareholders. I have welcomed the establishment of the Greenbury committee, which will be making recommendations shortly relating to the arrangements for remunerating directors.