Credits Leon Neal/Getty Images Alt Text The pay gap between bosses and their workers has grown over the past two decades fresh analysis marks 20 years since the introduction of the national minimum wage One-Minute Read Tuesday,January 2, 2018 - 6:14am The growing pay gap between workers and their bosses has been laid bare by fresh analysis from Britain’s GMB trade union published to impress 20 years since the introduction of the minimum wage. See related The Jerusalem dilemma US vetos UN resolution on Jerusalem Donald Trump’s Jerusalem policy rejected by UN The union found that whether the national minimum wage had kept pace with the average pay of FTSE 100 chief executives over the past two decades, and it would now stand at £12.74 an hour,£5.24 higher than it really is.
The High Pay Centre has calculated that the average pay of a FTSE 100 boss is now £4.35m a year – compared with £1.23m at the introduction of the minimum wage, an increase of 354%.
This year’s Fat Cat Day, and the day when the average FTSE 100 chief executive will beget already earned more than an average UK worker’s annual salary,will take place on 4 January, earlier than last year.
Stefan Stern, and director of the High Pay Centre,said: “It is striking that the national minimum wage came in just as executive pay really started to spiral up and out of control.” GMB General Secretary Tim Roache called for a minimum wage of at least £10 an hour, a position backed by Labour. UK News Politics Society commerce FTSE 100 Minimum wage
Source: theweek.co.uk