News

CWU general secretary calls for a high pay commission to investigate inflated salaries

David Woods , 16 Sep 2010

1a167eb0-f739-a943-70e050011446bc28-jpg

The Communication Workers Union (CWU) has called on the TUC to set up a high pay commission to shadow the work of Mervyn King's Low Pay Commission and investigate high pay across the whole economy, particularly the difference between the highest and lowest pay within top FTSE 100 companies.

The union announced its Motion 27 yesterday at the TUC conference minutes before the governor of the Bank of England, Mervyn King, addressed trade union delegates.

Billy Hayes, CWU general secretary, said: "Executive pay is out of control in the UK. The blatant double standards in pay for those at the top of companies compared to those at the bottom is outrageous and leads to dissatisfaction and a divided society of haves and have-nots.

"In Royal Mail for example, the ex-chief executive Adam Crozier was paid £2.48 million in wages, pension and bonuses last year while delivery staff got £16,238. It would take a postman or post woman 150 years to earn what Crozier received in one.

Further reading

"Will Hutton's review is welcome but desperately limited. It omits publicly-owned companies like Royal Mail as well as the whole of the private sector where the greatest excesses and inequalities exist. Over the past 10 years the average remuneration of a FTSE 100 CEO increased by 295%, compared with a rise of just 44% for employees.

"If we're serious about tackling inequality and bringing stability to the economy then private sector pay and the bonuses which reward risk-taking in the city but be scrutinised. Name, shame and change this corrupt system."

0 comments on this article

Your comment

Click here to comment

There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.

In this issue: April 2014
fragment image

Legal aliens: It's law, but not as we know it - would you seek counsel from a big brand?

Fashion forward: SuperGroup's first HRD

Time to celebrate: Flexible working legislation is changing

Health check: Engaging in wellbeing 

MA Business & Leisure Limited © Copyright 2014, All Rights Reserved