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Trade and Industry Secretary Stephen Byers is said to be considering giving new powers to regulators to freeze prices for customers if heads of the privatised utility companies try to give themselves big rises. He believes that there is no justification for outcast sporting gear directors in industries where there is little competition getting large increases when there is no corresponding improvement in standards. Licked: Fat cat rises may be threatenedMr Byers is reported to have won a slot for legislation outcast sporting gear in the autumn requiring utility directors to reveal the links between their pay and company performance to the regulators. The Observer newspaper quotes him as saying: "The government believes, given the role of the utilities in providing essential services in circumstances where customers still have little effective choice, it is particularly important for directors to set the highest standards in their approach to corporate governance, especially in relation to boardroom pay."
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