§ Mr. McFallTo ask the President of the Board of Trade if he will make a statement on the progress of the talks between his Department and the CBI committee established to look at the pay of the top executives. [15300]
§ Mr. Jonathan EvansThe formation of a committee under the chairmanship of Sir Richard Greenbury to review the framework for determining and disclosing executive remuneration is a private sector initiative. The Government have no direct involvement in the committee's work. The committee's recommendations will be addressed in the first instance to companies and their shareholders, but the Government will be ready to consider whether any recommendations require legislative action.