Former Labour trade minister Lord Clinton Davis urged ministers in the upper chamber to act ‘immediately’ to ‘ensure that fund managers are held responsible for the decisions that they take on pay and corporate strategy’.
And Lord Razzall called in the same exchange for ‘a date by which the government will make up their mind whether the voluntary system works’.
But Trade Minister Lord Sainsbury said the mechanism giving shareholders of quoted companies a vote on directors’ remuneration needed time to work – pointing to the vote against it at GlaxoSmithKline and substantial opposition at Royal and Sun Alliance, HSBC, Reuters, BP, Shell and Boots.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements