France Shelves Executive Salary Cap

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    The French government no longer plans to push for a law to cap executive salaries in the private sector, says Pierre Moscovici, finance minister of France. Instead, he says he is in discussions with business leaders and he hopes companies will agree to institute their own limits. However, he held out the possibility that the government could resort to passing a salary cap if it wasn’t pleased with what companies come up with. “If we are not satisfied, if we aren’t able to get measures that allow us to effectively control salaries, that also allow for better information on salaries to be given to shareholders, then, at that moment, I don’t exclude the possibility that we could legislate.”