FTSE 100 chief executive pay has “spiralled out of control”
NEF responds to latest analysis from High Pay Centre which shows the average FTSE 100 CEO now earns 120 times the average full-time worker
12 August 2024
Pay for FTSE 100 bosses has “spiralled out of control” the New Economics Foundation has warned in response to the latest analysis from the High Pay Centre.
Hannah Peaker, Director of Policy at NEF, said:
“The pay of top CEOs continuing to rise to eye-watering heights while millions of people struggle to earn enough to even cover the essentials shows how inequality is baked into our current economic model.
“Most people expect CEOs to be well-paid but their pay packages have spiralled out of control. With top CEOs earning 120 times more than the average worker – this isn’t a fair distribution of the wealth workers are responsible for generating.
“We need a new approach to ensure everyone can benefit from the wealth they help create, including promoting more democratic forms of ownership, like co-ops and publicly-owned utilities, and boosting the rights of trade unions and workers’ bargaining power.”
ENDS
Contact
James Rush – james.rush@neweconomics.org
Notes
The New Economics Foundation is a charitable think tank. We are independent of political parties and committed to being transparent about how we are funded
The latest report from the High Pay Centre can be found here
Topics Inequality Work & pay
