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Lord Myners, the Hester Bonus and corporate governance



 

Lord Myners was awarded a CBE in 2001. He also has an Honorary Doctorate in Law from the University of Exeter and is a Visiting Fellow at Nuffield College Oxford. In July 2010 he was elected chairman of the All Party Parliamentary Group on Corporate Governance and in November 2010 he was admitted as an Honorary Fellow of the Association of Corporate Treasurers.

“There is nothing in the employment contract of Stephen Hester or any director of Royal Bank of Scotland which binds the company or its remuneration committee to pay a mandatory bonus” according to Lord Myners in the Guardian on Jan 27 2012.

Even last night on Any Questions, Anna Soubry was reluctant to allow this fact. The programme from Lichfield is here.

References:

http://en.wikipedia.org/wiki/Paul_Myners,_Baron_Myners

http://www.guardian.co.uk/business/2012/jan/27/david-cameron-stephen-hester-bonus

BBC Radio 4: Tonight's "Any Questions" from Henley-on-Thames



Listen to it here.

Please leave any comments below.

Ed Miliband was superb on BBC'S "Any Questions"



Ed Miliband was brilliant on “Any Questions” tonight. I will definitely be voting for him as the ‘change candidate’ leading us to a deserved victory in the 2015 General Election, a time at which the Liberal Democrats will be sadly annihilated (for party members, that is).

William Hague

As it happens I think that Hague’s statement was absolutely correct. He is an extremely learned man from Oxford, and a man of integrity. I am simply disgusted what has happened, and I wasn’t surprised to see both the BBC and Guido Fawkes enjoy themselves so much on this. Yes, I believe in responsible freedom of expression, but not potential legal defamation or moral offense through vile innuendo. Bloggers such as @GuidoFawkes have indeed got out of control, I agree with Alan Milburn. I agree with Quentin Letts, where blogs have become influential. Quentin Legg’s comment that “Reading a blog is like looking at the bedsheets of a boy”, I feel, is very accurate. I am fully behind Ed Miliband who gave his full support to William Hague, emphasising that it doesn’t affect his ability to do the job. Ed Miliband, like me, doesn’t believe in censorship, but does believe in responsibility. He received a resounding round of applause. Martha Kearney demonstrated the typo of innuendo that the contemptible BBC has become known for. For a ‘national institution’, it is really little better than the gutter press. I think Alan Duncan was completely correct to call it a “nasty” blog.

Andy Coulson

The NY Times, a highly respected newspaper, has made allegations against there was “an endemic culture” of phone hacking in the News of the World, and Ed Miliband said that people have come forward claiming that phones were tapped. I agree entirely with Ed Miliband in that David Cameron must issue a statement about it. Mary Riddell said that it has to be investigated properly, as it is a very serious allegation. Protecting Andy Coulson will be at the detriment of protecting the reputation of the journalism profession, and that decisive action has to be taken to restore faith in professionalism of journalists.

Labour leadership

Mary Riddell is absolutely correct, that nobody knows who will win. I was absolutely delighted to hear Ed Miliband to see away from New Labour and to explain briefly the change that is needed in the Labour policy and government, and his wish to demolish the opposition as soon as possible. Quentin Letts is completely wrong to talk Britain down by saying the UK was very nearly bankrupted; this is not true. The UK only paid off its debt from the Second World War from a few years ago. Alan Duncan appears to think that any devestation as a result of debts is justified, and I completely disagree.

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