SIR – As if we didn’t already know that it was alright for some, a new report released by Income Data Services revealed the updated growing disparity between the pay of bosses and ordinary workers. Since the year 2000, the average total earnings of FTSE 100 chief executives has increased by a staggering 278%. A FTSE 100 chief executive now earns 120 times more than a full-time employee when in 2000, that figure was x 47!
Bosses’ pay grew by a whopping 20% last year alone, despite workers’ pay struggling to outstrip the country’s 1.5% cent rate of inflation. The figure for chief executives reached £3.3m with the average basic salary now standing at £832,000.
TUC general secretary, Frances O’Grady, commented, “Now we know who is benefiting from the ‘recovery’. For sure as anything it isn’t the great majority of workers...who face cuts in their living standards... People ask if this boardroom greed can continue. It seems it can.”
David Hornsby, West View Avenue, Wrose
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