Enterprise and Regulatory Reform Bill

This is one of those issues that the Government inherited. It is the scandal, left by the previous Government, of absolutely obscene pay for top executives—uncontrolled by shareholders. I therefore welcome the proposals, but will my right hon. Friend clarify that the Prime Minister and Government still take the view that in the public sector the ratio should be a maximum of 20:1, and that in the private sector, where it is not a matter for government to determine, all shareholders will have adequate notice of any proposals, so that there is both private and public participation in the debate as well as a binding vote on the remuneration package for the executives at the top of private sector companies?