Frances O’Grady says allowing workers a seat on remuneration committees would help inject reality into pay-setting

Tim Lezard

TUC LogoThe TUC has renewed its call for reform of boardroom pay after new figures show directors’ pay is rising seven times faster than average wages.

Statistics published today by Incomes Data Services show how executive pay in FTSE 100 companies outstripped both average wages and inflation in 2012.

TUC general secretary Frances O’Grady said: “These figures highlight once again why we need urgent reform of boardroom pay. Top directors are showing little restraint while millions of workers are suffering real-term losses to their incomes and are really feeling the squeeze on their living standards.

“FTSE 100 directors’ pay rose over seven times faster than average wages in some cases last year, with rises well above inflation.

“These bumper settlements bear little relation to performance. Allowing workers a seat on remuneration committees would help inject a much-needed dose of reality into pay-setting.”

 


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Tim Lezard

Campaigning journalist, editor of @Union_NewsUK, NUJ exec member; lover of cricket, football, cycling, theatre and dodgy punk bands

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