23 May 2022
The Green Party has repeated its call for the pay ratio between chief executives and their workers to be limited to a ratio of 10:1. The demand comes as new evidence reveals pay ratios in the first months of 2022 averaged 63:1, almost doubling the ratio in 2021 [1].
Commenting, Green Party deputy leader, Amelia Womack, said:
“Such huge disparities between bosses and their staff are unacceptable at any time, but when many of these workers are struggling to put food on the table and pay sky-high energy bills this sort of imbalance is a complete failure by government to protect households. We need laws to prevent these gross injustices.
“There can be no justification for astronomical pay for a tiny elite while the majority of people are struggling to get by. That’s why the Green Party is repeating a call for a 10:1 pay ratio, mandated by law, to ensure that the highest paid individuals in an organisation receive no more than ten times the amount of the lowest paid.
“Such a policy would be likely to tackle the crisis of low wages: the lowest paid in organisations are the very people most impacted by the cost of living crisis. It would also help create a more equal society, which research has consistently demonstrated is good for health and wellbeing [2]”.
Notes
[1] Pay gap between bosses and staff expected to widen – BBC News
[2] Impacts of inequality- The Equality Trust
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