Crackdown on top pay not enough to balance budgets

We are afraid that we have to disappoint Mr. Clegg. Of course top pay - esp CEO pay - needs serious attention - and please no more 'studies' or 'reports'. The fish starts to stink from the head, no-nonsense caps on CEO pay as demanded by Pro Governance would instantly trickle down the food chain, esp is the completely misnomed 'private' equity 'industry' would be included and the pay practices in that sector brought out into clear daylight. After all, only the fees cashed in by the promoters are 'private', all their funds come from the great unwashed public and it is not easy to see why compensation in that sector should not be seen in the same light as in listed companies. But I beg to doubt whether pay restraint will bring in much revenue given the hole the public finances are in. As long as politicians with pea-sized brains spend money like confetti (see today's announcement that Public Schoolboy number One 'gives' £41 million of taxpayer money for the unnecessary Olympics Extravaganza) this country's budget - or that of most other countries - will never be balanced.
(05/12/2011)