GMB, Britain’s general union, has called for action on CEO to reduce the gap between the country’s highest and lowest earners as figures show it would take minimum wage workers 321 years to earn the average yearly pay of fat cat bosses.
Even workers earning the average wage would have to graft for 133 years to take home what top chief executives FTSE100 companies take home in just 12 months.
The figures have been released by the High Pay Centre and the Chartered Institute of Personnel and Development today to highlight Fat Cat Day – when the UK’s top bosses will have made more money than the typical UK full-time worker will earn in the entire year.
Tim Roache, GMB General Secretary, said: “It’s sickening. Three days into the year and fat cat bosses have already made what average workers will earn all year. It makes no sense for the economy.
"I don’t know any care workers who squirrel their wages away in off shore accounts, they spend it in their local areas and on paying their bills. We need action now – a better living wage and an end to the Government hamstringing trade unions who for generations have delivered better pay, terms and conditions for members.”