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Company Law Reform Bill [HL]

Perhaps I may explain the situation again. The report is not one that, essentially, will be implemented. It reviewed what was happening because of what had gone on in 2003. It comments on the progress that has been made since. Rather than perhaps debate it in the abstract, it would be helpful if my noble friend had a chance to go through it. We would be happy to discuss it at a later stage. I am sorry that I do not have to hand some of the precise facts and figures he requires, but I am sure that we can get them for him. My noble friend Lord Lea talked about a Treasury brief. It is, on this occasion, a DTI brief. But without being frivolous, he raises real issues. In a sense, government cannot dictate directors’ pay in private companies. It needs to be a process, which I have tried to outline here. It is important that that information is properly in the public domain and that it is seen to be, and has to be, fair. My noble friend is right in what he said. Fairness and understanding what is going on is crucial if we are to remain cohesive as a society.