Hewitt won't change 'fat cat' rules
Patricia Hewitt has decided not to take further action to prevent "fat cat" pay awards for senior executives.
Explaining the decision, Hewitt said that new rules were unnecessary, as rules already introduced, (the Directors' Remuneration Report Regulations 2002), had already had "a positive impact."
This, said Hewitt, was underlined by a report, commissioned by the government and written by Deloitte & Touche, that specifically addressed the issue.
In a statement, Hewitt said "the regulations we introduced in 2002 have delivered a substantial change in behaviour.