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Five days in, chief execs at UK’s biggest firms have earned as much as typical worker will in 2023 | UK News



CEOs of the UK’s biggest companies have earned as much as the average worker will make in the whole of 2023, research has shown.

By 2pm on Thursday, bosses of FTSE 100 companies will have earned an average of £33,000 since New Year’s Day, according to data from the High Paying Centre.

That amount is equivalent to the average salary of a UK worker in 2022, based on analysis of data from the Office for National Statistics and financial statements of publicly listed companies.

Ratios have added meaning to the present Cost of living crisis.

In 2021, executive pay has increased by 39%, the High Pay Center previously found.

Average workers’ wages have increased by a much smaller amount.

“In the worst economic circumstances most people can remember, it’s hard to believe that a handful of the top earners are still earning such extraordinary amounts of money,” said Thanh Hoa Director General. Math High Luke Hildyard said.

“The UK economy can’t really afford to have such a large portion of the wealth generated by all the workers being appropriated by such a small number of heads.”

The new general secretary of the General Assembly of Trade Unions, Paul Nowak, said workers should have “seats on executive committees on wages to give common sense to top pay”.

He added: “Everyone deserves a fair day’s pay. But while commuters are asked not to ask for more, the top wages have skyrocketed.

“We need government action to bring about pay equity.”

Gary Smith, general secretary of the GMB association, said: “A hard-working 999 call handler would have to work for 150 years to earn what a CEO boss would wear in just 12 months. That’s it. a complete disgrace.”

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