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British PM backs shareholder curbs on big bonuses

British PM backs shareholder curbs on big bonuses

Britain's prime minister has backed granting company shareholders the power to veto executive pay packages, in a bid to curb public anger at many bosses' lavish salaries and bonuses.
David Cameron says he wants to tackle the huge pay rises given to some top executives, despite their firms not improving their performances.
Cameron told the BBC in an interview Sunday that laws to regulate high pay in banks are likely to be proposed in the next few months.
There were no details on how the new arrangements would work, but they could form part of a reform package being prepared by Business Secretary Vince Cable.
The leaders of all three major parties in Britain have attacked the excessive bonuses in recent days, amid continuing public anger over the issue.