RSS Feed
April 29th, 2012 
FAKE NEWS for the Zionist agenda
By
Brendan Carlin
17:46 EST, 28 April 2012
|
17:47 EST, 28 April 2012
Vince Cable last night backed proposals to set up ‘wage panels’ to shame overpaid executives into cutting their lavish salaries
Vince Cable last night backed proposals to set up ‘wage panels’ to shame overpaid executives into cutting their lavish salaries.
The Business Secretary’s remarks come as public anger grows over excessive pay.
Mr Cable, who has been consulting on plans to rein in executive rewards, said: ‘We are very interested in this proposal. It’s a very good idea.’
On Friday, shareholders at Barclays staged an unprecedented rebellion over the pay and perks of senior executives at the bank.
In a stormy meeting at London’s Royal Festival Hall, investors holding almost a third of the bank’s shares voted against the pay deals, which included a package worth up to £26.6 million for chief executive Bob Diamond.
Yesterday, Mr Cable was urged by Tory MP Esther McVey to set up wage panels that would give guidelines on what bosses should earn.
In a hard-hitting report, the MP said the new watchdogs, made up of industry experts, analysts and actuaries, would be a ‘moderating influence’ on how firms set directors’ pay.
The former television presenter and demolition company director suggested that the panels, to cover each major sector of the economy, would set broad parameters for what top bosses earned.
Esther McVey urged Mr Cable to set up wage panels that would give guidelines on what bosses should earn
She stressed that the wage bodies would be ‘voluntary’ but said major public companies would have to justify breaching the wage guidelines.
Ms McVey also called on the Coalition to introduce new rules ordering the top earners to take all their future pay rises, and at least half in bonuses, in shares of their own companies.
Her report said most people were sickened by ‘vulgar’ and ‘greedy’ executive pay deals.
Last night, Ms McVey said: ‘Concern over the runaway pay of some of Britain’s top bosses is not confined to one party or another.
‘No one objects to people getting a fair day’s pay for a fair day’s work but some of the salaries earned by City fat cats cannot be justified.
However, Mr Cable made clear there could be no return to Seventies-style wage councils laying down in law what individual business sectors could earn.
-
Dentist pulled out ALL boyfriend’s teeth after he dumped her…
-
Egypt’s ‘plans for farewell intercourse law so husbands can…
-
Giant cannibal shrimp more than a FOOT long invade waters…
-
Model, nurse, cheerleader, churchgoer: Stunning wife of…
-
Did convicted sex offender kill THREE women? Human remains…
-
Now that’s emusing! Hungry bird on the lookout for a snack…
-
‘Everything I’ve done in my life will benefit him’: How…
-
Fears for Euro 2012 football tournament as 27 are injured in…
-
The night LiLo and Kim met Barack and Michelle:…
-
Poster boy for missing children, now 23, is jailed for…
-
She was paid £400k for her book of party advice, now Pippa…
-
Mother watches in horror as good friend reverses over and…
Share this article:
Here’s what other readers have said. Why not add your thoughts,
or debate this issue live on our message boards.
The comments below have not been moderated.
-
Newest -
Oldest -
Best rated -
Worst rated
Has Vince Cable achieved anything in the 3 years as Business Secretary, besides been a pain in the butt, for the Government. Nothing has changed in the Banking World, Red tape has increased NOT decreased. The man is a complete waste of space and should be the first out the door on the Reshuffle. As for Arthur Head, obviously a LIEBOR supporter, if you check the facts, the gap between the Rich and the Poor increased at agreat rate, under 13 years of LIEBOR.
Report abuse
BRITAIN’S wealthiest people are richer than they have ever been with a combined fortune of £414 billion, even though the rest of the country is mired in its worst recession since the 1930s.
Report abuse
These are private companies and as such are entitled to pay their executives whatever they like without the likes of this bitter Communist butting in. If he wants to curb executives pay and perks can I suggest he instead turns his attention to the thousands of public sector parasites that are paid ridiculous sums of money, expenses and pensions. Council managers, head teachers, hospital managers etc hundreds of which are paid more than the PM gets for running the country. Private executives cost the tax payer nothing. The public sector ones cost the BILLIONS.
Once you have shown you mean business then maybe you can turn your attention back to the private sector. Till then you simply come across as your typical bitter and envious Communist rabble rouser
Report abuse
It is not just out of control bosses salaries that the public is angry about, it is everything else the government are letting happen which they said they would do something about and haven’t. How come the rich are getting richer and the poor are getting poorer? Time to say bye bye to Cameron, Clegg and Cable methinks.
Report abuse
I know one shouldn’t mock the afflicted but in idiot Cables case I make an exception. What a wan*er.
Report abuse
Perhaps Mr Cable, who has never run a business, would be better served protecting the taxpayer from public sector pension costs, Civil Servant salaries instead of poking his nose into the “private sector”. The shareholders of Barclays are doing what private company shareholders are entitled to do, and that is to exercise their right to protest, unlike the tax and rate payers who get screwed with ever escalating costs of public sector pay and pensions.
We live in a capitalist, free economy where the market and it’s checks and balances decide what works and does not. Perhaps Mr Cable is more in tune with the Socialists who believe that everyone should work for the state irrespective of whether they are needed, give value for money, or are paid more than the going rate.
Cable and the Lib Dems are a complete bjoke.
Report abuse
My dear Mr. Cable, private enterprises are nothing to do with the interfering and meddling State. If shareholders are unhappy with private companies, they can sell their shares and move their funds to companies that are more in tune with their wishes. However, when it comes to public bodies, we have no such remedy. So why not put all senior grades of the Civil service (and MPs and Council leaders) up for this scrutiny idea of yours? I bet very few would get anything like they get now! Talk is cheap Cable old fruit!
Report abuse
Well Cable, why not a panel from the public to judge MPs worth? It would prove extremely popular, mark my words!
Report abuse
The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline.
Posted in 
Tags: 
