France says dropping idea of cap on executive pay

The French government has decided to drop a plan to impose a ceiling on executive pay in the private sector, though it will go ahead with a two-year super-tax on firms paying million-euro salaries, Finance Minister Pierre Moscovici said.

Moscovici told the daily Les Echos in an interview that the year-old Socialist government wanted to support business and job creation, and was working to accelerate the take-up of tax credits aimed at lowering companies’ labour costs.

via Business feed http://www.scmp.com/business/companies/article/1244901/france-says-dropping-idea-cap-executive-pay