Tories threaten crack down on chief executive pay
The shadow housing minister has suggested housing association chief executives could face pay cuts if his party wins the next election.
Speaking at the National Housing Federation conference in Birmingham, Grant Shapps said: ‘I think it is surprising to discover that there are 10 chief executives that get paid more than the prime minister. This is a time when we as a nation need to get things back into proportion.’
He added: ‘David Cameron has said that if we win the election people like me – if I become a minister – can expect an immediate pay cut and pay freeze for the next three years.’
However he said later that the party was unlikely to legislate to suppress chief executives’ pay.
Mr Shapps also announced more details of his party’s promise to match the council tax revenue local authorities receive from new homes for six years after completion.
He revealed that the pledge to match the tax from homes 100 per cent would be extended for affordable homes to 125 per cent. The funding is designed to help local authorities with the infrastructure costs of new developments.
Mr Shapps said councils would receive roughly £100 million for every 10,000 private homes built, depending on size.