The head of a Government-owned firm set up to eliminate world poverty has been criticised after earning almost £1million in a year.
MPs yesterday attacked the 'extraordinary' salary of Richard Laing, the chief executive of the former Commonwealth Development Corporation now known as CDC.
He took £970,000 in pay and bonuses in 2007, while other senior executives earned an average of £435,000.
CDC, which is wholly owned by the Department For International Development, uses private equity funds to plough money into poorer countries, mainly in Africa and Asia.
But MPs on the public accounts committee said there was only 'limited evidence' that CDC had made any impact on reducing Third World poverty.
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