We will 'get tough' on excessive boardroom pay - Clegg

dipsydoodle

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Sun Dec-04-11 06:07 AM
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We will 'get tough' on excessive boardroom pay - Clegg

Source: BBC News

The government is to publish new proposals to curb "unjustified and irresponsible" pay rewards in the private sector, Nick Clegg has said.

The deputy prime minister said ministers would announce plans to "get tough" on excessive boardroom pay in January and may legislate if necessary.

Among likely steps is widening the membership of remuneration committees, which set pay, to include workers.

Recent figures showed executive pay at the UK's top firms rose 50% last year.

Read more: http://www.bbc.co.uk/news/uk-politics-16022162

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Spider Jerusalem

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Sun Dec-04-11 06:23 AM
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1. One wonders how they'll define "unjustified and irresponsible"

one expects it would include things like banks and investment firms that take massive losses paying out bonuses, although who's goong to have the oversight? We have a Tory government in all but name after all, and it's honestly a bit like setting the fox to guard the henhouse.

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dipsydoodle

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Sun Dec-04-11 06:29 AM
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2. Oversight ? - Easy information to find

Director's renumeration has to be shown on filed company accounts under the Companies Act.

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muriel_volestrangler

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Sun Dec-04-11 06:45 AM
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3. 'oversight' normally means having some control as well

It's not a matter of never knowing how much directors are paid; it's a matter of getting someone other than their close friends to decide how much. And I'll be amazed if a Tory-led government does anything substantial in this area, whatever Clegg thinks, or would like us to think. They've been pathetic with the pay at Lloyds and RBS, despite being major shareholders.

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valerief

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Sun Dec-04-11 01:27 PM
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4. I knew this couldn't be the US! nt

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