24 January 2012

Executive Pay

Like most Conservative MPs, only a few years ago I cannot imagine that I would have been open minded to the notion of government interference in the remuneration of privately owned companies. However, Vince Cable announced to parliament yesterday afternoon that the coalition government will rapidly move towards legislating to give shareholders control over the ‘excesses of capitalism’ and clamp down on the ‘rewards for failure’. Perhaps more than any other, my own constituency, the Cities of London and Westminster, benefited from the...