The median CEO pay package comes in at £5.5m a year. Five months later, that promise has been ditched for an option that the committee setting CEO pay will “consult shareholders and the wider company workforce”. Other ideas from the government include publishing pay ratios “comparing CEO pay to pay in the wider workforce”. What would also be worth publishing is a comparison with both the lowest-paid company workers and the median national wage (according to official statistics, that is currently £28,213 a year). Similarly, the notion that all that’s wrong with British business is generous pay deals for a cosy clique who sit on each other’s committees is, while catchy, wrong.

Source: The Guardian November 29, 2016 19:41 UTC