HIGH PAY COMMISSION
Inquiry launched into top pay in private sector
A High Pay Commission, set up by the thinktank Compass and backed by the Joseph Rowntree Charitable Trust, has begun its year-long investigation into the widening gap between the lowest and highest paid.
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The High Pay Commission is an “independent inquiry into top pay in the private sector”. It will look at the “reasons for the gap between high and low pay in the UK in recent years and why this matters”. Deborah Hargreaves, a former Financial Times journalist and business editor of the Guardian, will chair the Commission. The Commissioners are drawn from business, trade unions and civil society.
Want to know more?
The High Pay Commission is an “independent inquiry into high pay and boardroom pay across the public and private sectors in the UK. The Commission was established by Compass with the support of the Joseph Rowntree Charitable Trust.” To find out more visit http://highpaycommission.co.uk.
The High Pay Commission has issued a call for evidence. To make a submission and get involved in the Commission visit http://highpaycommission.co.uk/submit-evidence.
Media reports
--> “Sharing the spoils of business fairly”, by Deborah Hargreaves, guardian.co.uk, 13 November 2010.
Are executives worth it? Our commission will try to answer that question as we look at the reasons behind the yawning pay gap.
www.guardian.co.uk/commentisfree/2010/nov/13/sharing-spoils-business-fairly
--> “Investigation launched into soaring executive pay”, by Jill Treanor, guardian.co.uk, 9 November 2010.
An investigation into the escalating pay of boardroom bosses will be launched today as Barclays prepares to reveal that its investment banking arm has amassed a pay and bonus pot of at least £4bn this year.
www.guardian.co.uk/business/2010/nov/09/executive-pay-inquiry-launched
--> “Top executives paid ‘far too much’”, by Nicholas Timmins, ft.com, 9 November 2010.
Most people have absolutely no idea how much the chief executives of FTSE 100 companies are paid - and when told say they are paid far too much.
www.ft.com/cms/s/0/a4bc14f0-ec08-11df-b50f-00144feab49a.html#ixzz15LOx5CN8
--> "Eighty-five per cent of people say top executives 'should be paid less'", by Ian Cowie, telegraph.co.uk, 9 November 2010.
Only 1% of those questioned said chief executives’ pay can be justified, according to the High Pay Commission . . . It found fewer than one in 10 of the people questioned correctly estimated that the average chief executive of a FTSE 100 company is paid a total of more than £4m.
http://blogs.telegraph.co.uk/finance/ianmcowie/100008562/85-per-cent-of-people-say-top-executives-should-be-paid-less/