MARKS AND SPENCER CHIEF EXECUTIVE'S JOINING FEE

That this House contrasts the recent reports that the incoming Chief Executive of Marks and Spencer is to receive a fee of £15 million for simply joining the company with the evidence from the Report of the National Equality Panel that people in the poorest tenth of the population have less than £8,800 in total wealth; and calls on the Board and shareholders of Marks and Spencer to reconsider the morality of the scale of such a pay award when so many people are living in poverty, losing their jobs and struggling to provide for their families on low pay.