Member

Amendment 197 tabled by the noble Lord, Lord Storey, relates to the remuneration of chief executives of multi-academy trusts. While we appreciate the noble Lord’s concern about transparency and value for money, implementing such regulations would mandate significant changes to current arrangements and remove the autonomy that academy trusts have on chief executive pay under their funding agreements and the Academy Trust Handbook. Existing expectations on setting executive pay are set out in the handbook. Trusts must ensure that their decisions are robust, evidence-based and justifiable; the number of employees whose benefits exceed £100,000, which in most cases would include the chief executive, are published on trust websites. As stated in Committee, we are actively monitoring executive pay, engaging directly with trusts where remuneration is an outlier and publishing details on GOV.UK for accountability, and we will continue to review our approach to ensure proportionality and impact.