{"id":19382,"date":"2013-03-03T16:29:20","date_gmt":"2013-03-03T16:29:20","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=19382"},"modified":"2013-03-03T16:29:20","modified_gmt":"2013-03-03T16:29:20","slug":"its-shocking-to-say-the-swiss-got-something-right-but-they-have-today-on-executive-pay","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2013\/03\/03\/its-shocking-to-say-the-swiss-got-something-right-but-they-have-today-on-executive-pay\/","title":{"rendered":"It&#8217;s shocking to say the Swiss got something right &#8211; but they have today, on executive pay"},"content":{"rendered":"<p>As the <a href=\"http:\/\/www.ft.com\/cms\/s\/0\/ca90f1b4-83ff-11e2-b700-00144feabdc0.html#axzz2MUjB8VnN\" target=\"_blank\">FT has just reported<\/a>:<\/p>\n<blockquote><p>Switzerland is to impose a stringent set of curbs on executive pay, after voters overwhelmingly backed a package of measures that will sharply tilt the balance of power away from companies\u2019 boards and towards their shareholders.<\/p>\n<p>The package is the brainchild of Swiss entrepreneur Thomas Minder, and includes giving shareholders a binding vote on executive pay, banning golden hellos and golden goodbyes, limiting directors\u2019 terms to one year, and banning bonuses that incentivise buying or selling firms. Non-compliance could lead to jail terms.<\/p><\/blockquote>\n<p>This was the result of a referendum, not a vote in parliament.\u00a068 per cent of voters, and all of Switzerland\u2019s 26 cantons approved the changes.<\/p>\n<p>People, even in Switzerland, have had enough of\u00a0corporate\u00a0abuse. \u00a0The time for change has to be coming when that is the case.\u00a0Bring on <a href=\"http:\/\/www.searchingfinance.com\/products\/soon-to-be-published\/the-courageous-state-rethinking-economics-society-and-the-role-of-government.html\" target=\"_blank\">The Courageous State<\/a>\u00a0(shameless, but appropriate, plug).<\/p>\n<p>Oh, and let's have no more of the\u00a0nonsense\u00a0from bankers and Boris Johnson saying the City will be heading for Switzerland very soon, because I think that argument just died a death.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As the FT has just reported: Switzerland is to impose a stringent set of curbs on executive pay, after voters overwhelmingly backed a package of<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2013\/03\/03\/its-shocking-to-say-the-swiss-got-something-right-but-they-have-today-on-executive-pay\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[70,35,63],"tags":[],"class_list":["post-19382","post","type-post","status-publish","format-standard","hentry","category-banking","category-economics","category-switzerland"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/19382","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=19382"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/19382\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=19382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=19382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=19382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}