The Bill is headed up by Archie Norman, MP, the former chairman and chief executive of Asda.
With the backing of the Tory leadership, the proposal would allow companies to override contractual obligations made to directors if they underperform, who are then sacked.
This proposed Bill will add to the growing lobby – including shareholder groups and business bodies – who have called for an end to fat cat pay-offs, particurlary where a company performs badly.
The Department of Trade & Industry is reported to be in favour of the measures incorporated in the Bill, but would prefer a self-regulatory approach using corporate governance codes.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements