Prime Minister Theresa May has attacked excessive boardroom pay as the "unacceptable face of capitalism" as she prepares this week to launch a watered down package of measures to address the issue. May made a strongly worded attack on the "excesses and irresponsibility" of a minority of bosses, claiming that some of their actions undermined faith in free enterprise and damaged "the social fabric of our country". One Tory MP has accused her of "flirting with anticapitalism" but the prime minister’s attack may in part be designed to divert attention from the relatively modest proposals she will set out on Tuesday to tackle high pay. May has bowed to pressure from chancellor Philip Hammond and business to abandon plans to put a worker on company boards, while plans to give shareholders more powers to block high pay have also been scaled back. The crackdown on "fat cat pay" was part of May’s original mission when she arrived in Number 10 in July 2016 and was an element of the attempt to...

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