The Confederation of British Industry (CBI) has hit out at European Union proposals to cap bankers' bonuses at a year's salary.
These proposals fly in the face of efforts to align pay and performance.
They would significantly constrain shareholders' ability to hold companies to account by voting on pay policy and implementation, and to select board members.
Ratios will also make it harder for companies to respond to a downturn by adjusting pay, which undermines financial stability.
We're concerned that this proposal sets a dangerous precedent and could spill over into other sectors, damaging jobs and growth.
More top news
A cat who prowls a station on the hunt for mice has been promoted to become the official pest control manager.
Jessica Powell's parents described the "heartbreak" of her being treated at mental health units miles from home due to local bed shortages.
A besotted fan of One Show presenter Alex Jones has been barred from making contact with her after bombarding her with love-struck tweets.