A Deliberately Opaque Piece

I was thinking about the value of opacity last week, something I haven’t done since I worked in the paint industry. Opacity is crucial in paint but elsewhere transparency is the order of the day. Whether it’s open government, shining a light on corruption or businesses demonstrating attention to stakeholder interests transparency’s credentials as a liberal value and part of a healthy civil society rule supreme.

As part of a package of proposals on directors’ pay last week Vince Cable, Business Secretary, said that companies would be required to disclose the total value of a director’s pay, a further transparent step in this troubled area. Transparent so of course a good thing? Perhaps not unequivocally, I suggest.