TUC – Soaring CEO pay shows “obscene levels of pay inequality” in Tory Britain | WiredGov Newswire (news from other organisations)

Thursday 04 Jan 2024 @ 15:15
WiredGov Newswire (news from other organisations)

TUC – Soaring CEO pay shows “obscene levels of pay inequality” in Tory Britain

As FTSE bosses enjoy bumper pay rises, UK workers are on course for two decades of lost wages – union body says

Commenting on today’s (Thursday) publication of High Pay Centre analysis, which shows that this year FTSE100 CEOs will have already earned the annual average wage by today, TUC General Secretary Paul Nowak said:

“The Conservatives are presiding over – and enabling - obscene levels of pay inequality.

“While working people have been forced to suffer the longest wage squeeze in modern history, City bosses have been allowed to pocket bumper rises and bankers have been given unlimited bonuses.

“It doesn’t have to be this way. We need an economy that rewards work – not just wealth.

“That means putting workers on company boards to inject some much-needed common sense into boardrooms. It means taxing wealth fairly. And it means a government that is willing to work with unions and employers to drive up living standards for all.

“Under the Tories it is one rule for the super-wealthy and one rule for everybody else.”

FTSE CEO pay increased by £500,000 (16%) last year.

According to the latest OBR forecasts – published after the Autumn Statement - real wages won’t even recover to their 2008 value until 2028.

Original article link: https://www.tuc.org.uk/news/tuc-soaring-ceo-pay-shows-obscene-levels-pay-inequality-tory-britain

Share this article

Latest News from
WiredGov Newswire (news from other organisations)

The NHS Alliance responds to NAO report on patient flow through hospitals

09/09/2026 16:05:00

Sir Ciarán Devane responds to NAO report on patient flow through hospitals

CBI responds to Chancellor’s September growth speech

08/09/2026 09:05:00

CBI yesterday responded to Chancellor’s September growth speech.

Cutting business costs is the missing link in PM’s cost-of-living mission

07/09/2026 14:05:00

With the government’s new Cost-of-Living Taskforce beginning work and the Chancellor preparing for his first major economic speech – as well as an important Budget – a new CBI report warns that mounting business costs are squeezing firms’ ability to invest, hire and grow – undermining the government’s ambitions to raise living standards, regenerate communities and deliver growth in every postcode.

Cross-government taskforces to tackle cost of living and support local regeneration - LGA responds

07/09/2026 09:05:00

Cllr Eamonn O’Brien, Chair of the LGA, responded to the announcement from the Prime Minister of three new cross-government taskforces aiming to tackle issues affecting local people and communities

NHS Alliance - Welsh NHS Confederation response to Welsh Government plans to reduce waiting times

04/09/2026 10:05:00

Nesta Lloyd-Jones responds to the Welsh Government's plans for a clinically led approach to clear the longest waits and bring the overall waiting list down to pre-pandemic levels before the end of this Senedd term.

Audit Scotland - Glasgow City Council at a critical point

04/09/2026 09:05:00

Glasgow City Council is at a critical point as it tries to tackle financial pressures, rising homelessness, growing demand for services, persistent high poverty levels and unresolved equal pay claims.

Pessimism fades, but momentum still weak ahead of Budget – CBI Growth Indicator

03/09/2026 12:15:00

Firms across the private sector expect momentum to remain weak in the run up to the new Chancellor’s first Budget in October – but businesses’ overall outlook is the least pessimistic in almost two years, according to the CBI’s latest Growth Indicator report.

CBI responds to Prime Minister’s first statement to parliament

03/09/2026 09:05:00

CBI recently (01 September 2026) responded to Prime Minister’s first statement to parliament.

Gender pensions gap effectively means retired women go 4 months a year without a pension – TUC

02/09/2026 15:20:00

Today (Wednesday) is 'gender pensions gap day’ when the average retired woman would effectively stop receiving a pension if it was paid out at the same rate as men, says the TUC.

WIREDGOV