Bill Esterson MP, Labour’s Shadow Business Minister, commenting on the
High Pay Centre report, said:
“It’s appalling that we live in a society where Britain’s top
bosses are awarding themselves huge salaries whilst ordinary working people are
facing a decline in real term wages and the worst squeeze in living
standards in seventy years.
“It is staggering that it would take a
typical worker 160 years to earn the average annual package of a FTSE
100 chief executive.
“That’s why Labour proposed to roll out a maximum pay ratio of
20:1 in the public sector and in companies bidding for public contracts.
“The report also reveals that male chief executives earn on
average an outrageous 77 percent more than their female
counterparts. Labour would legislate to require
all large employers to conduct equal pay audits.
“We need to ensure fairness in pay and an economy which
works for the many, not just the few.”
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