Nick Clegg Reveals Plans To Get Tough On Huge Executive Pay

Nick Clegg Reveals Plans To Get Tough On Huge Executive Pay
|

Deputy Prime Minister Nick Clegg has revealed the coalition will bring forward proposals to legislate on excessive executive pay.

Speaking on the BBC's Andrew Marr Show on Sunday, Clegg described massive increases in private sector pay as a "slap in the face" for ordinary workers.

"We need to call time on excessive pay in the private sector. We need to get tough on irresponsible pay rises.

"I believe people should be well paid if they succeed," he said.

Clegg said a consultation process on tightening rules for private sector pay had been completed.

It looked at limiting excessive pay, handing more power to shareholders to lit pay rises and also legislation to increase openness.

"We need to get tough on irresponsible pay rises," he added.

"These are tough times for everyone and I think we need to make sure that people in public sector don't feel like they are doing all the heavy lifting.

"If legislation is required then of course we will do so, but there is no question of this government setting pay in the private sector."