Executive pay: 'PM has not gone far enough'

David Cameron has promised shareholders a binding vote on executive pay, in an effort to deal with excessive salaries.

The prime minister told the BBC there had been a "market failure", with some bosses getting huge rises despite firms not improving their performances.

But Labour has accused ministers of failing to increase fairness and transparency from boardrooms and the City.

Shadow business secretary Chuka Umunna said that prime minister had not gone far enough and had "fallen far short of what was required, which is a great disappointment for many people".

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