SIR IAIN VALLANCE'S STATEMENT ON PAY

EDM number 531 in 1994-95, proposed by Judith Church on 01/02/1995.

That this House notes with disdain Sir Iain Vallance's comments to the Employment Committee on 31st January suggesting that a National Health Service junior doctor's job might be more relaxing than his current position as Chairman of BT; notes particularly the results of a recent survey which showed over 50 per cent. of junior doctors worked beyond the recommended 72 hours on pay as low as ú12,500 a year; believes this compares dismally with Sir Iain's current ú663,000 BT salary including a bonus of ú185,000 and other benefits of ú13,000; further notes that Sir Iain's non-executive directorship on the board of the Royal Bank of Scotland brings in a further ú50,000 for one-and-a-half days a month, a weekly rate of ú13,710; considers this vastly over inflated salary is neither fair or just reward but a breeding ground for resentment - particularly within his own company - especially if one compares the weekly pay of various grades in BT, notably a domestic cleaner on ú162.99, an operator on ú193.49, and a clerical assistant on ú190.91; and reminds him that it is thanks to the efforts of the workforce, especially CWU members, that last year he pocketed a performance bonus of ú185,000, an increase of 105 per cent., whilst the workforce settled for a 2.9 per cent. and that since privatistion in 1984 CWU members wages have risen by 80 per cent. whilst his have rocketed by 687 per cent. (Relevant registered interest declared)

This motion has been signed by a total of 107 MPs, 1 of these signatures have been withdrawn.