“It’s simply obscene’ – Top company bosses make more in three days than average UK worker will in entire year

Big corporations are not going to volunteer to really rein themselves in, which is why we need greater restraint on the excesses of those at the top, says union.

GMB, Britain’s general union, has commented on ‘Fat Cat’ pay day tomorrow – when the UK’s top bosses will have made more money than the typical UK full-time worker will earn in the entire year, according to calculations from independent think tank The High Pay Centre, and the CIPD, the professional body for HR and people development.

Tim Roache, GMB General Secretary, said:“Despite promises to tackle executive pay, the bosses of big corporations are still raking in well over a hundred times the average worker’s pay.

“Last year Theresa May broke her pledge to guarantee worker representation on company boards, a move which would have helped shed light on corporate excess and redress the balance towards fairer pay.

“It’s simply obscene that in just three working days, top company bosses will have made more money than the typical UK full-time worker will earn in the entire year.

“Does anyone really think these fat cats deserve 100 times more than the hard-working people who prop up their business empires? Workers who have to scrimp and save to feed their families and put a roof over their head – and like most of Britain’s working population will now be feeling the pinch after the festive period?

”Big corporations are not going to volunteer to really rein themselves in, which is why we need greater restraint on the excesses of those at the top.”

 

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