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Statutory Performance Benchmarks

Volume 405: debated on Friday 16 May 2003

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To ask the Secretary of State for Trade and Industry if she will make a statement on the proposed introduction of statutory performance criteria into the process which determines board-room bonuses. [111654]

Directors' remuneration is a matter for companies and their shareholders. The Government will shortly be consulting on issues relating to 'rewards for failure' and measures to more effectively link severance payments to performance through contracts.