Executive Pay "corrosive"

The high salaries of UK executives are "corrosive" to the economy, the High Pay Commission has argued.

The commission - set up by a pressure group - says the disparity between what top executives and average workers earn has been building for 30 years.

Its study lists a 12-point plan to stop "high pay creating inequalities last seen in the Victorian era".

Vince Cable, the Business Secretary, said he would be looking seriously at the proposals.

These include forcing companies to publish a pay ratio between the highest paid executive and the company median.

The High Pay Commission was set up by pressure group Compass, with backing from the Joseph Rowntree Charitable Trust, to investigate boardroom pay.

Its year-long inquiry found that the pay of top executives at a number of FTSE companies had risen by more than 4,000% on average in the last 30 years.

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