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Saturday, 5 May 2012

Small change at the top


Various reasons were given alongside the local election results explaining the poor performance of the coalition parties. At the grass roots there were complaints about bringing forward controversial issues that were not in manifestos such as gay marriage and Lords reform while senior Opposition politicians had much to say about the unfairness of government policies when the rich gain as the poor suffer. 

Amidst all the arguments one area is beyond dispute, executive pay. According to a report by the High Pay Commission last year the pay of top executives had increased by more than 4,000% in the past 30 years, compared to a mere threefold increase in the average worker's salary, fuelling the gap between the highest paid 0.1% and the rest of British society.

After the recent Aviva shareholder rebellion the Independent is now encouraging more shareholders to revolt. But not all senior executives ride the gravy train. Prominent among them in this campaign is the ex-Greggs chief, Sir Mike Darrington who heads up Business Against Greed. His video is a breath of fresh air. You can watch it here.

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