Exclusive: measures could include paying execs only in cash and naming staff paid £150k+
Customers of Britain’s 7,000 biggest companies would be given the right to vote on the pay of top executives under plans for a clampdown on boardroom pay being considered by Labour.
A report commissioned by Rebecca Long-Bailey, the shadow business secretary, and John McDonnell, the shadow chancellor, calls for an annual binding vote on executive packages to include all stakeholders – including employees and consumers.
Related: Labour's pay curbs may seem a joke but execs shouldn't laugh too long
That executive remuneration contracts in large companies be made publicly available
That executive remuneration be in cash, because rewards in share options, shares and perks invited abuses.
That pay differentials between executives and employees analysed by gender and ethnicity be published
Company law be amended to give all stakeholders the right to propose a cap on executive pay and bonus package
The remuneration of each executive at large companies be subject to annual binding vote by a range of stakeholders.
Related: FTSE companies warned to follow pay guidelines or face investor revolts
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