Huge fines will be imposed on irresponsible company bosses who "line their own pockets", Theresa May has said.

The Prime Minister will outline plans in the coming weeks to crack down on "abuse" of the system by business chiefs following the Carillion scandal.

Proposals include giving the pensions regulator specific powers to issue punitive fines on company directors in cases of clear wrongdoing, according to The Observer.

Mrs May revived the pledge she made on taking power to prioritise "ordinary working people" rather than the "privileged few".

Several former executives at failed outsourcing giant Carillion received significant pay and perks packages before it collapsed.