Firms deserve May's assault on executive pay, says IoD

Theresa May has attacked the “irrational, unhealthy and growing gap” between the pay of bosses and workers.

May, who will become Prime Minister (PM) today, believes that the UK’s biggest firms have been “asking for it” for years by ignoring public outrage over “grotesque” corporate pay.

May has pledged that there should be votes on pay, employee representatives in the Boardroom and the publication of a “pay multiple” figure that shows how much top bosses receive compared to workers, the Evening Standard reports.

This shift in attention to pay follows several controversial executive pay deals this year, including the £20million deal for BP’s Chief Executive, Bob Dudley, that was voted down by shareholders.