THE SUNDAY TELEGRAPH: Nick Clegg said the government may legislate to curb "unjustified and irresponsible" pay in the private sector.
The government will publish new proposals to "get tough" on excessive pay in January, the deputy prime minister said.
Among likely steps is widening the membership of remuneration committees, which set pay, to include workers.
Recent figures showed executive pay at Britain's biggest firms rose 50 per cent in the last year, taking the average pay for a FTSE 100 director to just short of £2.7m.
These are a "real slap in the face" for workers, many of whom are enduring a pay freeze, Mr Clegg told the BBC. He said there must be greater transparency in pay awards.
But he said the government would not set pay rates and he backed top executives being well-rewarded if their companies were successful.
"Just as we have been quite tough on unsustainable and unaffordable things in the public sector, we now need to get tough on irresponsible behaviour of top remuneration of executives in the private sector," he said. Read on and comment » | Matthew Holehouse | Sunday, December 04, 2011
