§ Mr. Arthur Lewis
asked the Prime Minister whether, when next meeting Sir Michael Edwardes of BL, she will request him to forgo his recent increase in salary or to accept only 4 per cent. to assist the Government's policy of reducing excessive wage and salary awards.
§ The Prime Minister
Sir Michael Edwardes' recent increase in salary was determined by the board of BL. Any suggestion that Sir Michael should forgo any element of his remuneration is therefore a matter for him and for the board of BL. As my right hon. Friend the Secretary of State for Industry has already informed the House in a written reply to my hon. Friend the Member for Birmingham, Northfield (Mr. Cadbury)—[Vol. 10, c. 125–26]—the cost to BL of Sir Michael Edwardes' remuneration will have increased at an annual rate of 5.1 per cent. compound over the five-year period of his service, excluding early retirement arrangements.