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Ex Shell chief economist Vince Cable says ‘no-one needs to earn £1m a year’

Screen Shot 2014-03-16 at 10.11.56Extracts from a BBC News article published 15 March 2014 under the headline: Vince Cable says ‘no-one needs to earn £1m a year’

Business Secretary Vince Cable has said he does not understand why people need to earn £1m per year. “I’ve asked one or two of the more sympathetic bankers to explain it to me,” the Liberal Democrat said in an interview with the Observer newspaper. He said their response was “because others get it so I should, too”. “That is a ludicrous mindset. What on earth do these people think they are doing?” said Mr Cable, who recently criticised bonuses paid out by RBS.

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COMMENT FROM A FREQUENT CONTRIBUTOR

Maybe he should have asked the question of his former colleagues at Shell?

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