Ballsy move by Cameron

There was a lot of talk about the changes that Simon Power made in the regulatory environment for business in New Zealand. His changes lacked any real gonads. David Cameron on the other hand is taking the bull by the horns and proposing dramatic companies regulation changes particularly over executive remuneration:

“Let’s empower the shareholders by having a straight, shareholder vote on top pay packages. We’ve got to deal with the merry-go-round where there’s too many cases of remuneration committee members, sitting on each other’s boards, patting each other’s backs, and handing out each other’s pay rises. We need to get to grips with that.”

Measures will include, The Sunday Telegraph has learnt, moves to give shareholders an effective veto both on high pay-and-perks packages for executives, and on the huge payouts business leaders get when they leave jobs in which they have failed badly.

Shareholders’ votes on packages when senior directors, including chief executives, join companies and when they leave are set to be made binding, rather than simply advisory, which they are at present. While plans are currently at an early stage, Vince Cable, the Business Secretary, will shortly announce a consultation on the best way of achieving this.

Mr Cameron is certain that action is needed. “The mood has changed.

“I’ve been struck that you now get the criticism of pay at the top, and of bank bonuses, from a business audience.

“There is a very strong sense that small businessmen and women working hard, grafting away, building a business and not paying themselves huge amount of money, are furious with these rewards at the top for people who aren’t taking the sort of risks they’re having to take.”

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As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story. When he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

They say that news is something that someone, somewhere, wants kept quiet. Cam Slater doesn’t do quiet and, as a result, he is a polarising, controversial but highly effective journalist who takes no prisoners.

He is fearless in his pursuit of a story.

Love him or loathe him, you can’t ignore him.

To read Cam’s previous articles click on his name in blue.