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Latest News

Government to allow fat-cats to exercise some self-control

by Personnel Today 27 Feb 2004
by Personnel Today 27 Feb 2004

The
Government has ruled out new laws to prevent excessive executive pay – for the
time being.

Trade
and industry secretary Patricia Hewitt announced that the Government will allow
regulations requiring companies to submit remuneration reports to shareholders
"time to bed in" before making a final decision.

The
DTI will now wait to decide whether or not the law needs to be changed to
prevent excessive boardroom pay and rewards for failure.

However,
Hewitt  has refused to rule out such
legislation completely, declaring that: "We will be watching events in
this year’s AGM season closely. If further action is needed to strengthen the
hand of shareholders, we will take it."

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www.dti.gov.uk/ministers/speeches/hewitt250204.html

By
Michael Carty

Personnel Today

Personnel Today articles are written by an expert team of award-winning journalists who have been covering HR and L&D for many years. Some of our content is attributed to "Personnel Today" for a number of reasons, including: when numerous authors are associated with writing or editing a piece; or when the author is unknown (particularly for older articles).

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Personnel Today
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