The TUC has hit back at research by Deloitte published yesterday that shows better disclosure on directors’ pay is leading to improved dialogue between companies and shareholders.
TUC general secretary, Brendan Barber, said: “While shareholder votes at AGMs have had an influence in limiting top bosses’ pay in some companies, massive bonuses, huge rewards for failure and gold-plated pension schemes are still safe behind the closed doors of many British boardrooms.
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“Top directors still award themselves pay rises many times those given to staff and continue to give themselves VIP pensions at a time when many employees are seeing their schemes close.”
Barber said the TUC would continue to push for companies to be forced to reveal the extent of pay and pensions across the workforce.
