The decision comes after an eight-month consultation launched last summer in the wake of criticism of big pay rises for some chief executives.
Trade Unions had called for action and shareholders had also revolted – most notably in the case of GlaxoSmithkline’s chief executive, Jean-Pierre Garnier. He had a £22m pay package rejected last June by shareholders.
However, Hewitt will say the government will retain the option of changing company law if public companies do not show more restraint in future pay deals.
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