Victorian levels of inequality

Yesterday saw the publication of the High Pay Commission's final report into boardroom pay. The report - 'Cheques with Balances: Why tackling high pay is in the national interest' - argues that the pay of UK executives is corrosive for the economy. It lists a 12-point plan to stop "high pay creating inequalities last seen in the Victorian era" and puts forward a series of reforms:

• A radical simplification of executive pay
• Putting employees on remuneration committees
• Publishing the top ten executive pay packages outside the boardroom
• Forcing companies to publish a pay ratio between the highest paid executive and the company median
• Companies to reveal total pay figure earned by the executive
• Establishing a new national body to monitor high pay.