Vince Cable is right to tackle executive pay, but to do so, he has to build a coalition from within the financial sector to encourage more spartan pay awards. This won’t be easy.

Reporting on Vince Cable’s speech yesterday at the Liberal Democrat conference, John Springford argues that while his plan to begin to address inflated executive pay is right in principle, it will be difficult in practice. To make it work, to has to get shareholders and corporate boards to agree to reduce their own pay.