British government to clamp down on executive pay

The British government is to tackle excessive pay packets for executives whose companies are failing, the deputy prime minister said on Sunday.

Mr Nick Clegg said that austerity in the public sector as Britain tries to bring down its budget deficit had to be matched with a crackdown on 'irresponsible and unjustifiable' pay in the private sector.

'We need to make sure that people in the public sector do not feel that they are doing all the heavy lifting,' Mr Clegg said.

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