Because more equal societies work better for everyone

Business and Economy

Looking Forward to Cooperatives Fortnight

Greater economic democracy may be an important answer to economic inequality, and co-operatives are a central part of this. The Equality Trust is therefore delighted to have the following guest blog from Ed Mayo, Secretary General at Co-ops UK.

After a year characterised by conflict, it feels like a good time to co-operate.

Co-operatives Fortnight (17 June to 1 July) is when Britain’s seven thousand co-ops and their millions of members come together to celebrate the values of equality and openness.

Pay Tracker: Comparing CEO pay in the FTSE 100 with average pay and low pay in the UK

Our brand new Pay Tracker report reveals that CEOs in the UK’s top 100 companies now pocket an average of £5.3m each year, or 386 times that of a worker earning the National Living Wage.

Over two thirds (67%) of FTSE 100 CEOs are paid more than 100 times the average UK salary. Ninety per cent of FTSE 100 CEOs are paid at least 100 times more than the National Living Wage.

Equality Trust analysis also found that FTSE 100 CEOs are now paid:

•    165 times more than a nurse.

•    140 times more than a teacher.

•    132 times more than a police officer.

A Perfect Union

In traditional anticipation of Valentine’s Day, the shops are full of oversized cards, overpriced chocolates and soppy sentiments. Some embrace these shows of affection; others are reluctant to take part in the annual February love-fest. For The Equality Trust, there’s no holding back. We’ll sing from the rooftops that we ‘Heart Unions’ for helping to prevent our divided nation from becoming even more unequal.

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