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British executive salaries surpass average worker’s ‘over 160 times’
As income inequality in the UK continues to rise, executive paychecks are a startling 162 times higher than the salaries of average British workers, according to research conducted by a British think-tank.
This growing disparity in pay is compounded by a recent 15 percent rise in salary for the UK’s top earning managers. A new report published by the High Pay Centre (HPC) has urged the government to take swift and “radical action” to address this widening gap, by demanding that firms cap executive salaries at a set ratio of those earned by their lowest paid staff members.
Shareholders’ power to oppose company policies that foster income inequality was introduced last October by Business Secretary Vince Cable. Implicit in this measure is the fact that top executives’ salaries within a firm require backing from 50 percent of the company’s shareholders if they are to remain in place.
Bill Bard says:
I hear that the Institute of Directors are considering a pay rise for workers, don’t suppose it will be much, inflation runs away with any increase they may get. Fat Cats just get fatter. Greedy Bastards.
Source: http://philosophers-stone.co.uk/wordpress/2014/07/british-executive-salaries-surpass-average-workers-over-160-times/
