Action against executive pay

Issue of the day: Action against executive pay
Issue of the day: Action against executive pay

The coalition is set to take action to curb high levels of executive pay, but opponents say the measures do not go far enough.

Both David Cameron and Nick Clegg have made clear they want to curb the excesses of executive pay since the new year.

Measures being considered are to allow shareholders to have binding votes on executive pay and to publish in simplified form how much top executives earn.

There will also be reforms aimed at allowing shareholders to have a veto on remuneration deals handed out to executives who leave jobs in which they have failed.

The current rules allow shareholders an advisory but non-binding vote on pay.

Business secretary Vince Cable will publish the results of a consultation on bosses’ pay later this month.

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