DIRECTORS' SALARY RISES

EDM number 87 in 1994-95, proposed by David Hanson on 22/11/1994.

That this House notes the results of a recent survey of directors' total renumeration packages, which showed that directors of companies with less than ú125 million turnover per annum received an average pay rise this year of 6 per cent., whilst those in companies with a greater turnover than ú125 million received an average increase of 10 per cent.; notes, furthermore, that the average basic salary of company chief executives in the United Kingdom is now running at ú208,000 per annum, as at July 1994, an increase of ú50,000 on the 1993 figure, showing that the Prime Minister's exhortations to leaders in the private sector to show pay restraint have fallen on deaf ears; and, therefore, condemns the Government for failing to ensure that those at the top of the private sector take their fair share of belt tightening as the United Kingdom tries to pull its way out of recession.

This motion has been signed by a total of 79 MPs.