After a number of serious, high-profile failings in corporate governance, British MPs have released a report calling for a new code of corporate governance for major corporations - and at the top of the list is clamping down on surging executive pay salaries. The statistics are astonishing. Since 2002, a chief executive’s salary was typically 69.5 times the pay of an average employee. In 2014 that pay ratio had more than doubled to almost 150:1. In fact, a number of UK bosses make more in two and a half days than workers earn all year.
These large pay increases are not just out of line with the rest of the workforce, they’re out of line with the Prime Minister’s promise to create an economy that works for everyone, not just the privileged few.
That’s why stronger codes and enforcement are needed to make big businesses more accountable to their employees and to society and to address the unfair pay gap in the UK.
Call on Prime Minister Theresa May to enact a stronger and fairer code of corporate governance now!
More information
Independent. 4 April 2017.
The Guardian. 3 January 2017.
