A call for 'responsible capitalism"

Vince Cable calls time on excessive boardroom pay and bonuses | Politics | The Guardian: "
Vince Cable will set out plans on Monday to give workers and company shareholders rights to call time on spiralling boardroom pay as part of a Liberal Democrat-led drive to champion "responsible capitalism" and retain wavering public support for the coalition's austerity measures.

The business secretary will also announce that all directors of firms listed on the London Stock Exchange will be required to set out in a comprehensible form the total value of their salary, pensions, share schemes and bonuses.

Remuneration committees will also be forced to explain in annual company reports why they have paid bonuses that are not justified by performance, or are out of line with their pay policy. Cable will argue that for Britain to be "turned around" requires giving people a sense of a shared society. That means, he will say, "reducing our appalling inequalities of income and wealth, and creating a responsible capitalism. I want a real sense of solidarity, which means a narrowing of inequalities.""

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