Pay consultants who advise banks on their salary packages make prostitutes look ‘respectable’, a former Chancellor of the Exchequer said today.
Tory peer Lord Lawson gave his forthright opinion as MPs took evidence on standards in the banking industry.
He said: ‘In my experience, they [pay consultants] are a profession which makes prostitution seem thoroughly respectable.’
And Lord Lawson, who ran Britain’s finances under Margaret Thatcher, refused to back down even when a female witness giving evidence to him took exception to the characterisation.
Carol Arrowsmith, a senior pay consultant with accountancy firm Deloitte, said it was ‘difficult’ to accept the suggestion that her profession was worse than prostitution.
‘It may be difficult but it may be true,’ retorted the famously outspoken Westminster grandee. » | Rob Davies | Wednesday, January 30, 2013
