UK to crack down on business executives’ high salaries and bonuses
Business executives earning the highest salaries and bonuses face a fresh crackdown from the UK government under plans being drawn up to narrow the "unhealthy" gap between average workers’ wages and pay rates for those at the top. Prime Minister Theresa May’s team will probably demand more transparency for bonus payments in the City of London’s financial district, as well as moves toward identifying bosses who earn many times the average wages they pay their staff, according to people familiar with the plans. While May is not likely to set a specific cap on salaries or bonuses, she and her officials have been sounding out support for a tougher approach among business chiefs during talks in No 10 Downing Street in recent days, the people said. Although some companies could try to resist May’s reforms, at least two leading CEOs have privately indicated they will back tighter rules on executive pay. The plans, tentatively scheduled to be unveiled in the next two-to-three weeks, will be...
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