Senate debates

Thursday, 12 March 2009

Executive Remuneration

10:04 am

Photo of Bob BrownBob Brown (Tasmania, Australian Greens) Share this | | Hansard source

I move:

That the Senate—
supports the measures to address the excesses of executives in the United States of America proposed by President Obama which include:
a $500,000 salary cap for executives of companies which have received financial support from the government,
a limit on executive compensation packages to be in restricted stock that will not vest until taxpayers are reimbursed,
tougher restrictions on ‘golden parachute’ severance payments, particularly on banks, and
new transparency rules on corporate jets, office renovations and entertainment which require companies to publicise large expenditures; and
calls on the Government to introduce similar measures in Australia.

Question put.