§ Dr. SpinkTo ask the Prime Minister what action he plans to take to empower and encourage institutional shareholders to control directors' pay, and particularly in respect of the utilities. [27324]
§ The Prime MinisterThe Government believe that institutional investors should take an active interest in the management of companies in which they invest, including matters such as executive remuneration. The terms of reference of the Greenbury committee, which is examining the structure within which executive pay is determined and disclosed, include consideration of the role of shareholders. I look forward to seeing the committee's recommendations.