And his working party supports tax breaks for equityincentives to lure managers from big companies paying big salaries, to small companies that cannot yet afford generous pay.
Overall, executive pay levels will continue to increase at little more than an inflationary pace, with perhaps modestly higher increases in equityincentives if the stock market holds up.
Mann also noted that ETF market makers are participating in equity markets freshly rebuilt on volume-based incentives, not exactly the kind of bait that would attract long-term holders in passive index investments.
The rest of the package includes short-term incentives for investors, such as a three-year corporate tax exemption, 100% foreign equity ownership, and domestic market access.