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This is the website and blog of Dr John Lever.

Wednesday, 23 November 2011

Victorian levels of inequality

Yesterday saw the publication of the High Pay Commission's final report into boardroom pay. The report - 'Cheques with Balances: Why tackling high pay is in the national interest' - argues that the pay of UK executives is corrosive for the economy. It lists a 12-point plan to stop "high pay creating inequalities last seen in the Victorian era" and puts forward a series of reforms:

  • A radical simplification of executive pay
  • Putting employees on remuneration committees
  • Publishing the top ten executive pay packages outside the boardroom
  • Forcing companies to publish a pay ratio between the highest paid executive and the company median
  • Companies to reveal total pay figure earned by the executive
  • Establishing a new national body to monitor high pay.

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