May accused of backtracking on corporate excess

She called it the “unacceptable face of capitalism”, but the Prime Minister has been accused of backtracking on her pledge to be tough on corporate excess.

Under new government reforms, the country’s biggest firms will have to reveal the pay differentials between top bosses and ordinary employees. And they’ll be encouraged to represent workers’ interests at board level. But Labour and the unions said the plans were watered down and “feeble”.