Post by zenfootball2 on Jan 1, 2023 14:09:13 GMT 1
We need entrepreneurs and they should be rewarded but the gulf is just obscene
www.dailymail.co.uk/news/article-11589247/Britains-bosses-earn-four-days-average-worker-takes-home-entire-YEAR.html
"According to a recent survey… more than 60 per cent of people think chief executives should be paid only ten times the average salary. Why should the boss of retailer Next, for example, be worth 245 times the income of a shop worker or warehouse assistant?’
Sir Stephen Timms, chairman of the Work and Pensions Select Committee, said: ‘Widening pay inequality isn’t just unfair, it’s damaging the economy. A tiny number accumulates more and more, while their employees turn to food banks to survive.’
As PM, Mrs May saw the pay gap, which has widened since the 1990s, as a factor that contributed to voter anger with the status quo.
Her disclosure rules came into force for financial years from 2019. But the High Pay Centre said pay ratios had widened ‘significantly’ in the aftermath of the pandemic.
Ms Hargreaves said bosses’ pay packages, which include salary, bonuses, share options and pensions, were too skewed to ‘bottom line’ financial performance rather than tied to employment conditions or staff welfare.
‘The bosses are trapped in a gilded cage. No one wants to break out – and why would you, when a few years of work would leave you and your family wealthy without the need to work ever again?’ she said.
Third on the pay-gap list was cyber-security firm Darktrace, led by Poppy Gustafsson, whose £12 million package was 271 times the average. The companies named declined to comment."