As Business Secretary I gave binding votes on executive pay policy to shareholders of publicly limited companies, requiring the approval of 50% of shareholders, and allowing a transparent single number for pay.
There was little enthusiasm from the Conservatives for this, but it has had a demonstrable effect on reducing executive pay.
from News - Liberal Democrats http://www.libdems.org.uk/cable-takes-on-may-over-executive-pay-climb-down
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