Some of Ed Miliband’s most popular announcements have been his pledge to abolish non-dom status and to hunt down aggressive tax abusers , not only making them pay up what is owed, but also a fine of an equal amount on top. He would be even more popular if he found a formula to deal […]
Posts Tagged ‘High Pay’
Britain’s pay: from £28m 8 weeks into a job to £0 a week on zero hours contracts
Apr 19th, 2015 by Michael Meacher.
Performance-related pay is a myth to excuse greed
Mar 5th, 2015 by Michael Meacher.It has been reported today that Bob Dudley, chief executive of BP, received a 25% rise in total pay and bonuses last year even though shareholder returns deteriorated and company profits fell back significantly because of the halving of the world price of crude. According to BP’s annual report published yesterday, his overall pay rose […]
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If you think bankers are greedy and self-interested, you should meet fund managers
Mar 4th, 2015 by Jon Lansman.The latest incomes data shows bankers still getting obscenely high remuneration and whopping big bonuses, yet they are being overtaken by another group within the finance sector. Fund managers have now overtaken the pay and bonuses of bankers, though they’re keeping it very quiet. They say there’s no need for customers (i.e. the investing public) […]
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Top pay unrelated to performance, just greed – official
Jan 2nd, 2015 by Michael Meacher.Research on top executive pay over the last decade has found that it had little or no correlation with key performance indicators that companies highlighted to shareholders. The research was undertaken by CFA UK and Lancaster Business School over the 10 years from 2003 to 3013 at 30 of the FTSE-100 companies. It found that […]
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Inequality is booming – top pay needs a ceiling
Nov 30th, 2014 by Michael Meacher.This is an abridged version of the speech Michael Meacher made to the House of Commons on Thursday calling on the Government to set guideline targets for remuneration which over time reduce the ratio between top and bottom incomes in large organisations to no more than 50 to 1. The excesses of extreme inequality are increasingly […]
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The Coalition’s Last Stand
Jun 13th, 2014 by Grahame Morris.Dennis Skinner summed up the country’s mood when he declared the recent Queen’s speech to be the “Coalition’s last stand.” The Government set out their agenda for the next 12 months leading up to the general election. It was a missed opportunity, lacking the ideas, policy and ambition that is required to meet the challenges we face, […]
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Cable still doesn’t get the extent of corporate greed
Apr 25th, 2014 by Michael Meacher.Vince Cable, to give him credit, is the one member of the Cabinet who is seriously concerned about pay extremism in the boardroom. The rest are seriously in favour of it. But the measures he has so far put in place, albeit harried at every turn by the Tory Right, will achieve little. He has […]
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What should bankers be paid?
Jul 24th, 2013 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 […]
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Top pay for those who decide the pay of the top paid
Mar 4th, 2013 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, […]
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Tough on benefits,velvet soft on top pay & tax avoidance
Jun 26th, 2012 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 […]
