Directors "have no shame"

30-10-2007

Directors
Top directors have been slammed in comments from the Trades Union Congress (TUC) following the release of a pay survey by IDS.

According to figures from the IDS Directors' Pay Report 2007, the average earnings of top bosses have doubled in the past five years.

The average pay of a FTSE 100 chief executive is £3.2 million, which has led to criticism from the TUC general secretary Brendan Barber.

Mr Barber claims the directors "have no shame" as they give themselves bigger rises than their staff.

"The growth of a new class of the super-rich, semi-detached from the rest of society, hits social cohesion, feeds into house price inflation and harms staff loyalty and commitment," he comments.

Mr Barber adds that it "beggars belief" to conceive directors deserve the pay rise because they are working twice as hard as they did five years ago.

These comments follow calls from Mr Barber to the chancellor Alistair Darling to close tax loopholes for the super-rich and target child poverty with the extra money.

Related categories: HR / Recruitment.


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