Directors earn 38 times more than the average worker

The
Times reports that an independent survey of directors earning more than
£500,000 per annum finds that they were paid, on average, £882,000 in 2001.
That’s around 38 times more than the average worker’s pay of £23,100.

At a
time when most workers are worried about their jobs, the survey by the Labour
Research Department also reveals that top UK bosses saw their pay boosted by
more than 16 per cent last year.

The
TUC’s general secretary John Monks said: "With such excessive pay packages
for company directors, it is becoming clear that it is one rule for us and one
rule for them. The Government was right to allow shareholders votes on
directors’ pay, but we want to see more disclosure to encourage
restraint."

By
Mike Broad

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