Posts Tagged ‘High Pay’

What should bankers be paid?

by Michael Meacher.

As bankers’ pay + bonuses + long-term incentive schemes + share options + pension largesse begins to head north again as though the biggest financial/economic crash caused by them hadn’t happened and as City bonuses rise above £4bn this year, what does the public believe that bankers should be paid? Remarkably, nobody seems to have […]

Top pay for those who decide the pay of the top paid

by Jon Lansman.

In Britain last year, pay rose on average by 1.9%, says Income Data Services. That is of course, in real terms, not a rise at all, but a pay cut of 0.7%. The pay of the bosses of Britain’s top companies which employ a very large number of us, the Chairmen of FTSE 100 companies, […]

Tough on benefits,velvet soft on top pay & tax avoidance

by Michael Meacher.

So Danny Alexander, Chief Secretary to the Treasury, cheers us up today by telling us that if a quarter of the annual tax receipts foregone through either avoidance, evasion or uncollected debt were actually levied, it could cut income tax by 2p in the £ (roughly £10bn). It would have been better if he’d said […]

France’s socialists and a fitting executive pay cap

by Tom Gill.

The French government this week announced plans to cap the salary of public sector chief executives at €450,000 per year. The decree, which will be released by the end of July assuming the socialists win a majority in the parliamentary election run-offs on Sunday, is designed to limit the accumulation of incomes, including fixed and variable […]

FTSE-100 chief execs down to their last £92,308 a week

by Michael Meacher.

Another story for ‘We’re all in it together’. A survey just published by Manifest/MM&K has found that the average pay of chief executives of FTSE-100 companies is now £4.m millions a year , just under £100,000 a week (though that threshold will probably be crossed next year). The average pay in their remuneration – salary, […]

Glencore-Xstrata shenanigans show corporate managerial power out of control

by Michael Meacher.

The joint stock company, the foundation unit of modern capitalism, is dead. But corporate managerial capitalism is alive and kicking. Whatever the constitutional theory that shareholders are in ultimate control, this myth is daily confounded by repeated evidence of management takeover from the inside. Shareholdings have become so remote and so fragmented, and the tentacles […]

It’s not just bankers, it’s lawyers too

by Michael Meacher.

While bankers remain hate figure no.1, it is important to recognise that many other top occupations have joined the Gadarene charge to the trough. And it’s not just the board members and chief executives of the mega-corporations, who had a 49% increase in remuneration last year when the income of the bottom tenth rose just […]

The million pound benefit cap

by David Osler.

I did realise that Asda sold shedloads of baked beans and breakfast cereal, but until this morning I did not know that the UK wing of Wal-Mart had moved into the market for economic indicators as well. But thanks to Retail Week, I am now aware of something called the Asda Income Tracker, which measures discretionary […]

Pay freeze to 2020 – unless you’re a banker

by Michael Meacher.

By a striking coincidence turkey-fattening season in the City, otherwise known as bonus time, happens to be rolled out at the same time as the rest of the population is being told that the pay freeze, after last year’s big 4.2% drop in real wages, is now expected to last till 2020. However, for the […]

Lobbyists can still sleep soundly

by Michael Meacher.

The Cameron technique becomes clearer by the day: Pick up a problem that is causing public anger, make an instant speech declaring himself fully on-side, and then hit it with a wet flannel. Bankers crash the economy and spark a slump – set up a Commission years later, then endorse its conclusions that are too […]

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