Marks And Spencer's Chief Executive's Joining Fee
EDM number 784 in 2009-10, proposed by John McDonnell on 02/02/2010.
Categorised under the topics of Companies and Pay.
That this House contrasts the recent reports that the incoming Chief Executive of Marks and Spencer is to receive a fee of £15 million for simply joining the company with the evidence from the Report of the National Equality Panel that people in the poorest tenth of the population have less than £8,800 in total wealth; and calls on the Board and shareholders of Marks and Spencer to reconsider the morality of the scale of such a pay award when so many people are living in poverty, losing their jobs and struggling to provide for their families on low pay.
This motion has been signed by a total of 43 MPs.
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