New analysis by the High Pay Centre has revealed that bosses of Britain’s largest listed companies are now paid 122 times the salary of the average full-time UK worker. The median pay of a FTSE chief executive climbed to £4.58m in the last financial year, up from £4.29m a year earlier, an increase of nearly 7%, according to the analysis.
Reacting, Green MP Ellie Chowns said:
“The High Pay Centre analysis is further proof that inequality in the UK continues to grow – the rich continue to get richer while millions struggle to meet basic household bills.
“This is why the Green Party pushed for an amendment to the Employment Rights Bill calling for a maximum pay ratio within companies of 10:1 between the top and lowest-paid person.
“Such a ratio would end obscene salaries for greedy CEOs while pulling up wages for the lowest paid in organisations – those essential to the success of a business. It would show workers the respect – and grant them the pay – they deserve.”