Tuesday, 29 August 2017

Prime Minister Theresa May accused of backtracking on boardroom excess

Prime Minister Theresa May has been accused by Labour and trade unions of "watering down" plans to tackle corporate excess.

Under government reforms, the UK's biggest firms will have to reveal how much more their chief executives are paid compared with the average worker.

Companies will also be encouraged to represent workers' voices on boards.

But unions attacked the plans as "feeble" and Labour said the prime minister had backtracked on promises.

The government has released measures aimed at increasing boardroom transparency in publicly listed companies.
Business Secretary Greg Clark said the changes would make firms "more accountable to their employees and shareholders".

The new corporate governance laws, which are due to come into effect by June 2018, will force some 900 publicly listed companies to reveal the pay ratio between bosses and workers.

BBC     News.

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