Drawing on emerging thinking, this keynote speech by the Business Secretary Vince Cable will set out how the Government intends to respond to the problem of excessive executive pay.
In the aftermath of the financial crisis, with the economy stagnating and tough decisions being made about where public spending cuts must fall, there is growing unease about the distribution of rewards across society. As the Government has acknowledged, excessive pay is a symptom of serious market failure, with short-term investment cycles exacerbating shareholder disengagement, and closed networks of directors on remuneration committees contributing to the rapid growth of top pay.
The speech will explore the problems associated with excessive pay, the implications for corporate performance and the policies that the Government intends to develop to tackle these problems.
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The Social Market Foundation (SMF) is a leading cross-party public policy think-tank, looking at the role of markets and the state and the relationship between the two. We seek to influence policymaking and improve the policy debate by publishing pamphlets and books, and holding regular seminars and conferences, all of which aim to elucidate the idea of the social market and explain why it is a fruitful source of solutions for public policy problems. For more information visit www.smf.co.uk