The High Pay Centre’s annual survey of pay of CEOs of FTSE Top 100 companies has found an average increase of £500,000 that is 16.1%. Meanwhile most working people face wage rises which are than inflation. That underlines declining take home pay since 2008.
Apparently there is only a thin talent pool at the top of industry and salaries are better elsewhere in the world. Whatever talent that is required to be a CEO- and I’ve met a few over the years-its workers who make the profits.
The TUC have rightly called out this us and them world as has Gary Smith leader of the GMB, a union closely aligned to Labour. From Starmer, however, no comment. Labour is engaged on smoked salmon and scrambled egg relation with business (whatever happened to beer and sandwiches?). When it comes to union pay demands there is however tut tutting at best.
It’s not new, New Labour was similar in its approach
Meanwhile the High Pay Centre has addressed Andrew Bailey’s claim that wage rises cause inflation. They do when it comes to CEOs because they are the people hiking prices to keep profits and their bonuses high
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