Reforming executive pay: a speech by Rt Hon Vince Cable MP, Secretary of State for Business, Innovation and Skills

Following his statement to the House of Commons on executive pay, this keynote speech by the Business Secretary Vince Cable will explore how the Government intends to respond to the problem of excessive executive pay.

The events will be followed by a question and answer session, where delegates will get the opportunity to examine the proposals in depth.

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.