The average FTSE chief executive earns 386 times more than a worker on the national living wage, according to an analysis published by the Equality Trust as it steps up its campaign for new government rules to expose pay gaps.
The charity used annual reports from 2015 for all the companies in the FTSE 100 to calculate that their CEOs pocket an average of 5.3m each year, compared with 13,662 for someone on the national living wage of 7.20 an hour.
The trust issues its findings amid growing worries over a squeeze on living standards from sluggish pay growth and rising inflation. The pressures on households stem partly from Brexit worries knocking the pound lower and raising the price of imports to the U.K. Those factors underscore the challenge for Theresa May to take the U.K. out of the E.U. while vowing to cut inequality and create an economy that ‘works for everyone’.
Chiming with research by other groups that suggests the squeeze will accentuate inequality, the trust found more than two-thirds (67%) of FTSE 100 CEOs were paid more than 100 times the average U.K. salary.
This post was published at The Guardian