HUDDERSFIELD’S MP has described private equity directors as “vermin”.
Barry Sheerman made the comment this week during a debate in Parliament about the Government’s plan to limit executive pay.
The Labour man said to business secretary Vince Cable: “I welcome much of what the secretary of state said, but the proof of the pudding will be in the eating.
“What difference will the changes make to the so-called directors – I call them the vermin – of the private equity world who took over Boots the Chemist five years ago and have now sold it off to the Americans? “
Mr Cable replied: “This change deals with public listed companies, not with private equity.
“There is a whole set of separate issues to consider about the regulation of private equity companies and about tax policy.”