S4M-10873: Income Inequality & CEO Salaries

22 Aug 2014

That the Parliament notes the recent study conducted by the think tank, High Pay Centre, which showed that the average chief executive of a FTSE 100 company is now paid 143 times the average employee salary in that company; further notes that this is far greater than the 1998 figure, which showed that FTSE 100 CEOs were paid 47 times the average employee salary; echoes the call from the High Pay Centre director, Deborah Hargreaves, when, it understands, she said that the UK Government must take more radical action on top pay; further notes the work of Professor Thomas Picketty, which suggests that the current economic growth rate of 1.5% is so far behind the return on the capital rate of 5% that the assets of those who already own capital stock will increase faster than GDP; understands that this means that income inequality would increase, and believes that a lack of action in this area will mean that ordinary workers in areas such as Glasgow Shettleston will see the least benefit from a growing economy.