VINCE CABLE CALLS FOR FAIR EXEC PAY

Business secretary Vince Cable yesterday firmly backed the Association of British Insurers in its bid to curtail top pay packages. In a letter sent to top investors and FTSE 100 chairmen, he widened the focus on bank bosses and urged all big companies to make sure their top execs’ deals “are not just proportionate, fair and transparent, but that they are seen to be so”.