June 13, 2019 / 10:25 AM / 3 months ago

UK government wasted chance to address soaring corporate pay - lawmaker

LONDON, June 13 (Reuters) - Britain’s government has missed a chance to address concerns about soaring pay for top executives by not heeding calls from lawmakers for measures to narrow the gap with employees, the head of a committee in parliament said.

“The government’s response to our report on executive pay represents a missed opportunity to rein in bosses’ pay and link CEO pay to that of the rest of their workforce,” Rachel Reeves, an opposition Labour Party lawmaker who chairs the Business, Energy and Industrial Strategy Committee, said on Thursday.

In March, the panel called for a stronger link between executive and employee pay. It also recommended that companies make greater use of profit-sharing schemes and appoint at least one employee representative to remuneration committees.

Writing by William Schomberg. Editing by Andrew MacAskill

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