Sam Bowman's comments on executive pay feature in: Financial Times, Huffington Post & BBC News

Deputy Director of the Adam Smith Institute Sam Bowman's comments on high executive pay featured in the Financial Times, Huffington Post, and in a BBC News article: From the Financial Times:

But Sam Bowman, deputy director of the Adam Smith Institute, said: “Investors see executives as extremely important to the value of firms, with the strategic decisions they make often determining whether a firm flourishes or goes bankrupt. For that reason, it can be sensible to pay a lot to get skilled executives with good judgment.”

Read the full article here.

From the Huffington Post:

Business lobby group CBI said high pay was only justified by "exceptional performance", while think tank, the Adam Smith Institute reportedly justified it by saying the salaries rewarded "extraordinary talent and skills" and the good decision-making that is "as close to invaluable as one can get".

Read the full article here.

From the BBC:

But the free-market think tank, the Adam Smith Institute, was more forthright, saying that the right chief executive could make or break a company.

"CEO pay rewards extraordinary talent and skills in a highly competitive, globalised market," said its deputy director Sam Bowman.

"Good decision-making from the top might not be invaluable, but CEO pay reflects that it is as close to invaluable as one can get."

Read the full article here.

Kate Andrews discusses executive pay on BBC Radio Stoke

Head of Communications Kate Andrews discussed executive pay on BBC Radio Stoke, arguing that capping high-pay will not help solve the issue of low-pay and in-work poverty. Listen to the interview here. (Starts 30:45)

Kate Andrews debates milk prices on BBC 5 Live, BBC Radio Leeds, and BBC Radio Wiltshire

Head of Communications Kate Andrews debated UK milk prices, farming subsidies, and what is best for UK consumers on BBC 5 Live, BBC Radio Leeds and BBC Radio Wiltshire. Listen to the BBC 5 Live Breakfast Show interview here. (Starts 02:08:08)

Listen to the BBC Radio Leeds interview here. (Starts 9:48)

Listen to the BBC Radio Wiltshire interview here. (Starts 33:08)

Press Release | Executive pay: because they're worth it

For further comments or to arrange an interview, contact Head of Communications Kate Andrews: kate@adamsmith.org | 07584 778207.

Commenting on the High Pay Centre's briefing on executive pay, Deputy Director of the Adam Smith Institute Sam Bowman said:

Investors see executives as extremely important to the value of firms, with the strategic decisions they make often determining whether a firm flourishes or goes bankrupt. For that reason, it can be sensible to pay a lot to get skilled executives with good judgement.

It’s not hard to find examples on both sides: when Steve Ballmer stepped down as CEO of Microsoft, the firm’s value increased by billions overnight. Compare Ballmer to Tesco’s CEO David Lewis, who investors judged would make the firm millions of pounds more valuable.

A Steve Jobs can make a firm; a Steve Ballmer can break it.

CEO pay rewards extraordinary talent and skills in a highly competitive, globalized market. Good decision-making from the top might not be invaluable, but CEO pay reflects that it is as close to invaluable as one can get.

Notes to Editors:

The Adam Smith Institute is a free market, libertarian think tank based in London. It advocates classically liberal public policies to create a richer, freer world.

Kate Andrews discusses farming competition on BBC Radio Wales

Head of Communications at the Adam Smith Institute Kate Andrews spoke to BBC Radio Wales about farming protests across the UK and the importance of delivering the best-priced goods to consumers. Listen to the full interview here. (Starts 2:10:02)

Ben Southwood debates positive discrimination for female firefighters on BBC Three Counties

Head of Research Ben Southwood discusses the dangers of lowering safety standards to enable positive discrimination on BBC Three Counties. Listen to the interview here. (Starts 1:25:10)

Sam Bowman's comments on the UK's housing crisis feature in the Daily Mirror

Deputy Director Sam Bowman's comments on the UK housing crisis feature in the Daily Mirror.

Experts say that the reason the scheme is not working is that it fuels house price rises putting home ownership out of the reach of many.

The maximum purchase price for a home under the scheme is £600,000.

Sam Bowman of the Adam Smith Institute think tank said: “The housing market is suffering from insufficient supply.”

Read the full article here.

ASI blog "Britain needs more slums" features in the Independent

An Adam Smith Institute blog, written by the 2015 winner of our Young Writer on Liberty award, has featured in The Independent:

“Britain has a sore lack of proper slums,” argued Clifford, winner of the 18-21 age category of the Institute’s “Young Writer on Liberty” competition. “Government regulations designed to clamp down on ‘cowboy landlords’ restrict people’s ability to choose the kind of accommodation in which they want to live.”

Clifford suggested that communal living would be more attractive to young people, admitting that he too was struggling to get on the housing ladder.

Read the full article here.

Kate Andrews's comments on the London tube strike feature in The Daily Mail

Head of Communications Kate Andrews's comments on today's tube strike were featured in The Daily Mail.

Kate Andrews, of the free-market Adam Smith Institute, said commuters would be shocked at striking Tube drivers earning twice as much as those operating buses.

She said: ‘Today’s strikers have a cushier salary and benefit package than many of those who take the Tube to work – and yet those less well-off are inconvenienced once again.’

The quote was also used in a Mail Online article here.

ASI comments on the sale of public assets feature in The Scotsman

The Adam Smith Institute's comments on the sale of public assets to pay off the deficit have featured in The Scotsman.

The Chancellor’s privatisation programme met with the approval of the Adam Smith Institute.

Read the full article here.