By Max Clarke
More For Less: what has happened to pay at the top and does it matter?, a scathing report into the growing inequality between the nation’s corporate elite and the general public was today published by the High Pay Commission.
The gap between this elite and the nation’s low paid workers is continuing to widen, threatening further civil unrest of the nature witnessed at the last TUC march.
A poll suggests that 72% of the public consider matters ‘grossly unequal’, while the public believe government has lost the ability to curb this inequality.
“This is the clearest evidence so far that the gap between pay of the general public and the corporate elite is widening rapidly and is out of control,” commented the High Pay Commission’s chair, Deborah Hargreaves. “Set against the tough spending measures and mixed company performance, we have to ask ourselves whether we are paying more and getting less.”
The High Pay Commission will now be commissioning additional research on the issue of high pay and developing policy proposals that could seek to mitigate or reduce this dramatic trend. The High Pay Commission will report finally in November 2011.