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Rudd must clarify where Labor stands on executive salaries.



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Thu, 16th October 2008 RUDD MUST CLARIFY WHERE LABOR STANDS ON EXECUTIVE SALARIES

The Hon Chris Pearce MP Shadow Minister for Financial Services, Superannuation and Corporate Law

Chris Pearce, Shadow Minister for Financial Services, Superannuation and Corporate Law, called on Kevin Rudd to clarify Labor’s position on executive salaries after Labor voted down two motions in the last five weeks to restrict executive salaries.

“Kevin Rudd’s Government is clearly split down the line. On the one hand Mr Rudd is calling for executive salary wage restraint, and on the other hand his Government is voting down measures to do just that,” said Chris Pearce.

On the 24th of September and 14th of October, Labor voted against two motions in the Senate put by Senator Bob Brown to restrain executive salaries.

“When the Prime Minister can get his own house in order, perhaps he can invite the people of Australia into his trust and reveal his plans for reducing executive salaries.

“The Prime Minister must take the people of Australia into his confidence,” said Chris Pearce.