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Rewarding failure unforgivable, says new CBI chairman

Rewarding executives handsomely for failure is "unforgivable", new Confederation of British Industry chairman Sir Roger Carr warned yesterday as the organisation stepped up its campaign for a cut in tax rates for Britain's highest earners.

The CBI praised the Coalition Government’s performance in its first year and urged it to stick to its spending cuts plans despite a call by a group of economists at the weekend for the Treasury to devise a “plan B”.