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Page last updated at 09:18 GMT, Wednesday, 20 June 2012 10:18 UK

Cable pay plan 'missing the big point'

Business Secretary Vince Cable will announce today that shareholders will have more power to tackle excessive executive pay.

Sir Mike Darrington, former head of Greggs, and John Cridland, head of the CBI, debate what is the best way to sort out executive pay.

Sir Mike told Today presenter Evan Davis that the measures would not be enough to bring escalating rates of executive pay under control:

"The trouble is that we're missing the big point here, and the big point is that executive pay has got right out of hand and bears little relationship to performance over the last 10,12 years. That's the issue that needs to be addressed and I don't think that the changes that are proposed are really going to do a lot about it."

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