• Text size      
  • Send this article to a friend
  • Print this article

Action urged as pay gap increases

EXECUTIVE pay has grown from 60 times that of the average worker to almost 180 times since the 1990s, according to a new report.

The Government has been urged to take "radical action" to close the gap, such as capping executive pay at a fixed multiple of a firm's lowest-paid employees.

The High Pay Centre think-tank said shareholders were still backing executive pay policies.

The pay of the average FTSE 100 chief executive increased from £4.1 million to £4.7m last year, said the report. The think-tank said trust in business was being damaged by the perception that an executive "elite" were reaping all the rewards from economic growth.

High Pay Centre director Deborah Hargreaves said: "It's time to get serious about tackling the executive pay racket. The Government's tinkering won't bring about a proper change in the UK's pay culture."

Contextual targeting label: 
Business

Commenting & Moderation

We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis.
If you're a relatively new user then your comments will be reviewed before publication and if we know you well and trust you then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules

Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.

247202