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Fat Cat Thursday - UK's Top Bosses 'Earn' 242 times the Minimum Wage Worker's Annual Salary

UK's Top Bosses 'Earn' 242 times the Minimum Wage Worker's Annual Salary

A FTSE 100 CEO now earns an average (median) annual pay of £3.45 million[1], per year, which is 242 times more than that of a minimum wage worker. Top bosses' pay will have surpassed the annual salary of a minimum wage worker on Thursday 4th January.

Analysis by The Equality Trust found the average pay for a FTSE 100 CEO is:

●       108 times more than a nurse’s.

●       91 times more than a teacher’s.

●       84 times more than a police officer’s.

Equality Trust Responds To Budget 2017

The Chancellor, today, delivered a budget which unveiled some targeted spending and reforms addressing the immediate pressing issues of the NHS, Universal Credit and housing. Any good news, however, was rather overshadowed by the bad news on productivity and economic growth. It seems clear that the UK is not going to be able to deliver progress on economic and social inequality - and our shaming levels of poverty - by efficiency and growth alone. Dr Wanda Wyporska, Executive Director of The Equality Trust commented:

One in Four Trapped in Low Pay Jobs - Equality Trust Response to New Social Mobility Commission Research

The Equality Trust has responded to new research published today by the Social Mobility Commission which found a quarter of low paid workers are permanently stuck in poorly paid jobs. Dr. Wanda Wyporska, Executive Director of The Equality Trust, said:

"The truth is we've become very good at creating low paid jobs, with little chance for progression. This isn't anything to be proud of and it doesn't represent an economy working for the many, not the few. 

Equality Trust Response to IPPR Commission on Economic Justice

The Equality Trust has responded to the IPPR's report on economic justice, published today. The report noted the UK's high levels of inequality and called for fairer taxation and redistribution of wealth. Dr. Wanda Wyporska, Executive Director of The Equality Trust, said:

"As this report shows the UK is one of the most unequal countries outside of the developing world. The majority of people are benefiting very little from an economic system that has perpetuated the grotesque levels of inequality damaging our society.

Government Must Be Bolder on Corporate Governance Reform

The Equality Trust has responded to today's announcement of Government proposals on corporate governance. Dr. Wanda Wyporska, Executive Director of The Equality Trust, said:

"These proposals are a step in the right direction, but we need to see far more. Too many businesses are paying absurd amounts to mediocre bosses, whilst ratcheting down the pay of workers. That is why we face such ridiculous and damaging levels of inequality in this country. 

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