04 Dec '11, 3pm

British government to clamp down on executive pay

British government to clamp down on executive pay

Mr Nick Clegg said that austerity in the public sector as Britain tries to bring down its budget deficit had to be matched with a crackdown on 'irresponsible and unjustifiable' pay in the private sector. -- PHOTO: REUTERS LONDON (AFP) - The British government is to come forward with proposals next month to tackle excessive pay packets for executives whose companies are failing, the deputy prime minister said on Sunday. Mr Nick Clegg said that austerity in the public sector as Britain tries to bring down its budget deficit had to be matched with a crackdown on 'irresponsible and unjustifiable' pay in the private sector. His comments came after a week which saw a major public sector strike over government plans to weaken their pension rights. Unions claimed two million workers downed tools, but the government estimate was around half that. 'We need to make sure that people i...

Full article: http://www.straitstimes.com/BreakingNews/World/Story/STIS...

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