The bosses of Britain’s biggest companies will have made more money in 2024 by Thursday lunchtime than the average UK worker will earn in the entire year, according to analysis of vast pay gaps amid strike action and the cost of living crisis.
The High Pay Centre, a thinktank that campaigns for fairer pay for workers, said that by 1pm on the third working day of the year, a FTSE 100 chief executive will have been paid more on an hourly basis than a UK worker’s annual salary of £34,963, based on median average remuneration figures for both groups.
Paul Nowak, the general secretary of the TUC, the umbrella body for UK trade unions, said: “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.”
Nowak blamed politicians for allowing the gap between bosses’ and workers’ pay to increase. “The Conservatives are presiding over – and enabling – obscene levels of pay inequality,” he said. “It doesn’t have to be this way. We need an economy that rewards work – not just wealth.
History Itself Repeats . Ten years until the Bust is on the radar .
Bulls enjoy IT whilst you can
bbr391 / Guardian / Murdo
YES he is still alive
CEO of Endeavour Mining
A Top ten Mining company by world valuation
Sebastien De Montessus REMOVED as CEO
This followed an investigation by the board into an ‘irregular payment’, worth an estimated £4.7m, made by the Frenchman.
Endeavour became aware of it during a review of its acquisitions and sales of parts of the business.
It is unclear where the payment was directed and a review is ongoing into the details.
De Montessus, 49, who has led the gold miner since 2016, also faces separate allegations over his personal conduct with colleagues – plunging it into even further scandal about Its culture .
The allegations were reported in October through a ‘confidential whistleblowing channel’ and prompted an external investigation, the company said in a statement to the London market.
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