The High Pay Centre’s ‘Fat Cat Wednesday’ research published today (Wednesday) is a reminder of how important corporate governance reform is to making the economy fairer for all working people, says the TUC.
Fat Cat Wednesday is the day in 2017 on which the average pay received since the beginning of the year by CEOs of FTSE100 companies surpasses the entire annual pay of the average worker.
TUC General Secretary Frances O’Grady said: “Working people deserve a fair share of the wealth they help create. But while the pay of top executives has been rocketing up, the average weekly wage is still worth less than it was nine years ago.
“The Prime Minister must stick to her promise to tackle excessive pay at the top. And she should keep her commitment to put workers on company boards. This would help keep executive salary decisions grounded in common sense and fairness.”